---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------
SHIB/USDT: Remain under bearish pressure below 0,00001875
Context
The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital asset Shiba Inu (SHIB) is suffering about negative global market situation, and with a massive total supply of 1,000,000,000,000,000 (55% of the supply in circulation) it is hard to see a fondamental bullish pressure to be set from the supply management.
Main ressources
Coin Market cap (Supply) =>coinmarketcap.com/currencies/shiba-inu/
Shiba Token (Website) = > shibatoken.com/
Market configuration
- Graphical Elements :
Graphical Resistance = 0,00001875 & 0,00002840
Graphical Support = 0,00000510
- Mathematical Indicators:
EMA ( Exp Moving averages) are capping the market at 0,00001875 = Bearish
RSI indicator (below) is below 50% and bearish trend line - no divergence = Bearish
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target c B hasn't been already reached = 0,00000685
Fibonacci support of the wave c B (max extension) = 0,00000510
Fibonacci Bullish Target = 0,00002840 & 0,00005190
Conclusion
Prefered case => As long as 0,00001875 remains a key resistance the SHIB is expected to reach lower target at 0,00000685 before any bullish reversal tentative
Alternative case => In case of 0,00001875 resistance breakout, the bearish trend will be invalidated opening the door to 0,00002840 & 0,00005190
SHIB/USDT: Remain under bearish pressure below 0,00001875
Context
The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital asset Shiba Inu (SHIB) is suffering about negative global market situation, and with a massive total supply of 1,000,000,000,000,000 (55% of the supply in circulation) it is hard to see a fondamental bullish pressure to be set from the supply management.
Main ressources
Coin Market cap (Supply) =>coinmarketcap.com/currencies/shiba-inu/
Shiba Token (Website) = > shibatoken.com/
Market configuration
- Graphical Elements :
Graphical Resistance = 0,00001875 & 0,00002840
Graphical Support = 0,00000510
- Mathematical Indicators:
EMA ( Exp Moving averages) are capping the market at 0,00001875 = Bearish
RSI indicator (below) is below 50% and bearish trend line - no divergence = Bearish
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target c B hasn't been already reached = 0,00000685
Fibonacci support of the wave c B (max extension) = 0,00000510
Fibonacci Bullish Target = 0,00002840 & 0,00005190
Conclusion
Prefered case => As long as 0,00001875 remains a key resistance the SHIB is expected to reach lower target at 0,00000685 before any bullish reversal tentative
Alternative case => In case of 0,00001875 resistance breakout, the bearish trend will be invalidated opening the door to 0,00002840 & 0,00005190
Trade closed: target reached
Downside target reached - Bullish reversal expectednew analysis is coming soon
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.