$SHELL /USDT Technical Analysis (4H Chart)
📉 Current Price: $0.1449 (−7.23%)
📊 Moving Averages:
• MA(20): $0.1542
• MA(50): $0.1673
👉 Summary:
SHELL is cascading downward with no brakes in sight. Price action is sharply bearish, with each lower high confirming sustained distribution. The latest drop pierced previous support and is now testing fresh lows near $0.1443 — a concerning level for bulls.
🔄 Market Behavior:
SHELL has been in a consistent downtrend since late May, forming a clean pattern of lower highs and lower lows. Both MAs are sloped downward, and price remains firmly below them, indicating ongoing weakness. The recent red candle was accompanied by a volume spike — capitulation or continuation?
🔥 Momentum Snapshot:
• 📉 Bearish momentum is accelerating — huge red volume bar confirms a powerful sell wave.
• 🧨 MA cross remains wide with no signs of convergence.
• ⚠️ Price just broke down from a sideways consolidation — implying continuation rather than reversal.
🧱 Key Levels:
• Resistance: $0.1542 (MA20), $0.1583 (24h high), $0.1673 (MA50)
• Support: $0.1443 (current wick low), next likely zone at $0.1400, then $0.1320 range (historical levels)
📌 Summary:
The chart screams heavy downtrend, with volume confirming the latest breakdown. Bulls must reclaim the 20MA and flip it as support to slow the bleeding. Until then, every bounce is suspect.
⚠️ DYOR – This trend is decisively bearish, and catching falling knives in such structures is risky. Patience is key — wait for trend reversal signals or confirmation from key levels before committing capital.