$SHELL /USDT – Bearish Correction in Progress!
Momentum Analysis:
SHELL/USDT has experienced a 21.15% drop in the past 24 hours, signaling significant downside movement. The price is currently at 0.3583, close to the 24-hour low of 0.3335. The RSI (6) is showing 64.05, indicating the asset is approaching overbought levels, which might lead to a bearish pullback or consolidation.
Breakout Confirmation Level & Key Support:
Key Resistance: 0.3732 (recent high)
Key Support: 0.3335 (24h low)
Breakout Confirmation Level: If the price dips below 0.3408 (lower Bollinger Band), it could further confirm bearish sentiment.
Long Setup:
Entry Zone: Consider entering long positions if the price stabilizes above 0.3408 (lower Bollinger Band) and shows signs of reversal.
Target: First target at 0.3582 (near current price), second target at 0.3732.
Stop Loss: Below 0.3335 to limit potential loss if the bearish trend continues.
Pro Tip for Traders:
Pay attention to Bollinger Bands for price action insights. A break below the lower band might indicate further downside, while a bounce could suggest a potential reversal.
Relevant Hashtags:
#SHELLUSDT #CryptoAnalysis #BearishCorrection #BollingerBands #RSI