Shiba Inu (SHIB) technical analysis:
Trade setup: Bullish breakout from Ascending Triangle and above $0.000008 resistance could signal possible trend reversal. Price reached our target of $0.000010 resistance, which is also 200-day Moving Average, where it got rejected once already. If it breaks above that, it would confirm the Uptrend and could revisit $0.000012 next.
Pattern: Ascending Triangle which is a continuation pattern (it typically breaks out in the direction of existing trend). Most traders wait for a breakout but Swing traders could trade between the trendlines (Buy at Support, Sell at Resistance) as long as the trendlines are still relatively far apart.
Trend: Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.0000080 (previous resistance), then $0.0000055. The nearest Resistance Zone is $0.0000100, then $0.00001200.
Trade setup: Bullish breakout from Ascending Triangle and above $0.000008 resistance could signal possible trend reversal. Price reached our target of $0.000010 resistance, which is also 200-day Moving Average, where it got rejected once already. If it breaks above that, it would confirm the Uptrend and could revisit $0.000012 next.
Pattern: Ascending Triangle which is a continuation pattern (it typically breaks out in the direction of existing trend). Most traders wait for a breakout but Swing traders could trade between the trendlines (Buy at Support, Sell at Resistance) as long as the trendlines are still relatively far apart.
Trend: Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.0000080 (previous resistance), then $0.0000055. The nearest Resistance Zone is $0.0000100, then $0.00001200.
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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.
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.