SHIBA INU (SHIB/USDT) – Technical Analysis & Trade Plan
Current Price: 0.00001428 (as of May 17)
Timeframe: Daily
Status: Retesting support after hitting major targets
Recent Price Action Recap:
May 4: SHIB was at 0.00001290 with a first target of 0.00001478.
Since then, SHIB rallied and hit the first target and extended to the second target of 0.00001765.
Currently, it is pulling back and testing support.
Key Technical Levels:
Support Zone: 0.00001415 – 0.00001450
Target 1: 0.00001700
Target 2: 0.00002000
Trade Strategy:
Bullish Setup:
Buy Entry: 0.00001420 – 0.00001450
Take Profit 1: 0.00001700
Take Profit 2: 0.00002000
Stop-Loss: Daily close below 0.00001415 for two consecutive days.
Summary:
SHIB has already achieved previous bullish targets and is now testing a key support zone. As long as it remains above 0.00001415, further upside towards 0.00001700 and 0.00002000 remains in play. This level offers a solid risk-reward buying opportunity for patient traders.
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