[Technical Analysis] SHELL/USDT - Strong Momentum Building
Current Price: 0.1862 USDT
24H Change: +12.51%
24H High/Low: 0.1929 / 0.1597 USDT
Volume (24H): 59.31M SHELL
Analysis:
On the 1-hour chart, SHELL/USDT shows strong bullish momentum. After forming a base around 0.1591, the price has consistently made higher lows and higher highs, a classic sign of trend reversal.
The Parabolic SAR dots are positioned below the price, indicating a sustained uptrend. Additionally, the MACD line is trending above the signal line, and the histogram is expanding positively, confirming bullish momentum.
Key Levels:
Immediate Resistance: 0.1929 (recent high)
Immediate Support: 0.1769 (previous consolidation zone)
Indicators:
SAR (0.02, 0.2): Bullish
MACD: Positive crossover confirmed, momentum strengthening
Outlook:
If SHELL can hold above the 0.1800 region, a retest and potential breakout above 0.1929 seems likely. Traders should watch for volume confirmation to validate the breakout.
Caution: A break below 0.1769 could trigger a short-term pullback.
Strategy Suggestion:
Bullish above 0.1800
Tight stop-loss below 0.1760
Target zones: 0.1950, 0.2000