🚨 SHELL/USDT: MyShell Token Consolidating! Is a Breakout Near?

Market Outlook: MyShell ($SHELL), the token for the decentralized AI platform, is currently in a consolidation phase after showing strong bullish momentum in previous months. The price is trading around $0.145, and is down slightly in the last 24 hours. Technical analysis suggests the price has bounced off a key support zone and a major breakout could be incoming if the price can overcome resistance.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Wait for a confirmed breakout and candle close ABOVE the resistance level of $0.155 on a higher timeframe (e.g., 4H or Daily) with significant volume. This could confirm a potential trend reversal.

💰Targets: $0.165, $0.175, and potentially towards $0.185, based on previous resistance levels.

🛑Stop Loss: Below the breakout candle's low or below the immediate support at $0.142.

🟥 Short Entry Trigger: Consider a short if the price shows a strong rejection at the $0.155 resistance zone and a confirmed breakdown BELOW the crucial support level around $0.142 with a closing candle on a higher timeframe.

💰Targets: $0.138 (24-hour low), and potentially lower toward the recent bottom near $0.121.

🛑Stop Loss: Above the resistance zone at $0.155.

Your Action Plan:

01 - Wait for Confirmation: SHELL is at a pivotal point. Patience is crucial to wait for a clear, high-volume signal before committing capital. False breakouts are common in volatile assets.

02 - Use a Stop-Loss: Given the asset's history of volatility, a stop-loss is essential for managing risk and protecting your capital.

03 - Manage Your Risk: Do not over-leverage your position. Assess your risk tolerance and size your trades accordingly, especially in the futures market.

📢 What are your thoughts?

Vote: Do you think SHELL will break out of its consolidation and push higher, or will it be rejected and consolidate further?

Breakout and Rally 🚀

Rejection and Consolidation 📉

Comment: Share your analysis below!