🔍 1. Price Trend
SHIB is currently trading inside a descending channel, capped by a major downward trendline (black line).

Price is approaching a strong support zone around 0.00001150 – 0.00001200, aligning with the 0.786 Fibonacci level (0.00001503) — a common area for bullish reversals.

📊 2. Technical Indicators
✅ RSI (Relative Strength Index)
RSI is at 34.17, close to the oversold zone (30).

Slight bullish divergence between RSI and price suggests a potential upcoming bounce.

✅ MACD
MACD line is starting to cross above the signal line from below → bullish crossover.

Momentum is still weak, but this is often an early sign of trend reversal.

✅ WTO (Wave Trend Oscillator)
WTO is curving upwards, and green histogram bars are forming.

This signals early buy pressure and potential for an upside move.

✅ Cluster Algo
The main line is turning up from the lower band.

The appearance of green dots under the oscillator suggests early accumulation and a possible trend reversal.

☁️ Ichimoku Cloud
Price is trading below the Kumo cloud, meaning the overall trend is bearish.

However, the cloud is thin ahead → potential breakout zone if buyers step in.

🔢 Fibonacci Retracement (from top to bottom)
Key resistance levels:

0.786: 0.00001503 (close to current price, possible bounce)

0.618: 0.00002153 (major resistance)

0.5: 0.00002609 (midpoint target)

These levels act as potential resistance targets if price begins to recover.

🧠 Summary Table
Factor Signal
Price Trend Bearish (within downtrend channel)
RSI Near oversold, bullish divergence
MACD Bullish crossover, early momentum
WTO Upward signal, green bars forming
Cluster Algo Green signals appearing, bullish lean
Ichimoku Still bearish but near breakout area
Fibonacci Near 0.786 support – reversal potential
🎯 Suggested Scenarios:
Short-term: Possible technical bounce toward 0.000015 – 0.000017 range.

Mid-term: If SHIB breaks the descending channel, targets may extend to 0.0000215 (Fibo 0.618) and 0.000026 (Fibo 0.5).

Long-term: A proper reversal needs confirmation via breakout above the Ichimoku cloud and trendline resistance.

Fear & Greed Index

Now:

Fear

Pages

Search This Blog

Friday, April 4, 2025

DXY Retest at 106.644: Potential Downward Pressure on Bitcoin – CRT Analysis - Binance

Thursday, April 3, 2025

DXY Retest at 106.644: Potential Downward Pressure on Bitcoin – CRT Analysis - Binance

April 03, 2025 at 12:48AM SHIB/USDT Price is approaching a strong support zone around

SHIB/USDT Price is approaching a strong support zone around

Wednesday, April 2, 2025

Dollar Declines on Weak US Economic News - TradingView