Current Situation:
Current price: approximately $0.00001284.
Performance over 24 hours: Relatively stable (-0.16%)
The currency is in a accumulation phase within a narrow price range.
Technical Trend:
The chart shows a symmetrical triangle pattern indicating that the currency may be on the verge of a major price explosion.
The pattern indicates that peaks are declining while troughs are rising, which compresses the price into a narrow range before a strong movement.
Support and Resistance Levels:
Support at $0.00001250 is a near support that protects the price from a short drop or $0.00001200 is stronger support if the first level is broken or $0.00001150 is major historical support.
Resistance levels at $0.00001500 is the first resistance that may halt a temporary rise or $0.00002000 is significant resistance if the upward trend continues or $0.00004000 is the potential technical target for a major breakout.
Potential Targets:
If a bullish breakout occurs, Shiba may reach around $0.000040.
This means a potential price increase of more than 200% from the current level.
Advice: The technical pattern indicates potential upward movement, but the market is volatile. It is always recommended when investing in meme coins to allocate 5% of the portfolio's capital and set a stop-loss at less than 3% from the entry point while monitoring support and resistance levels.
$SHIB #shiba⚡#CryptoIn401k #BinanceSquareTalks #BinanceSquareFamily #Shibarium $SHIB $SHIB
