$SHELL ’s Rebound Spark: Relief Rally or the Start of a Bigger Wave?
After weeks of steady decline from a high of $0.2400, #SHELL🚨 /USDT finally seems to be showing signs of strength with a sharp recovery from its recent low of $0.1604. The current price of $0.1865 represents a solid 12.83% gain on the day, suggesting a potential trend reversal or at least a healthy relief rally. The bullish engulfing candle on the 2-hour chart, backed by increased volume, tells a story of buyers stepping back in at a critical point.
What makes this move more interesting is that it didn’t come from thin air. The rebound began after price hit a psychological support zone near $0.16, which also lines up with a previous accumulation region. Since then, price has surged upward and is now attempting to consolidate just under minor resistance at $0.1914. If this level is cleared with conviction, the next stop could easily be $0.20 or higher, potentially retesting broken support zones as new resistance.
The order book shows a nearly balanced tug-of-war between buyers and sellers, with bids growing stronger near the $0.185 level. This points to sustained demand even after the quick jump, a good sign for the bulls. Momentum indicators (though not fully visible in this snapshot) likely reflect the early stages of a trend shift. In short, SHELL might be setting up for a more sustained upward phase, provided the broader sentiment remains supportive and no major resistance halts its climb. Keep watch on $0.1914 — if it breaks, this could turn into a momentum trade.
