$SHIB /USDT is currently trading at $0.00002740, reflecting a -1.90% daily decline. Shiba Inu has been consolidating in a range, with significant volatility over the past 90 days, gaining 100.37% during this period. The token’s current price action indicates potential trading opportunities within a defined range, presenting both long and short setups.
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Key Market Data
24H High: $0.00002884
24H Low: $0.00002714
Resistance Levels:
Immediate Resistance: $0.00002850
Major Resistance: $0.00003000
Support Levels:
Immediate Support: $0.00002700
Major Support: $0.00002650
Trading Volume (24H):
SHIB: 3.42T
USDT: $96.31M
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Trading Strategies
1. Long Trade Setup
Entry Zone: $0.00002700 - $0.00002720 (near immediate support)
Target 1: $0.00002800
Target 2: $0.00002850
Target 3: $0.00003000 (if breakout occurs)
Stop Loss: $0.00002650
Reasoning:
The $0.00002700 support level has shown consistent buyer activity, making it a low-risk entry zone for long trades.
A breakout above $0.00002850 could indicate further bullish momentum targeting $0.00003000.
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2. Short Trade Setup
Entry Zone: $0.00002850 - $0.00002900 (near immediate resistance)
Target 1: $0.00002780
Target 2: $0.00002720
Stop Loss: $0.00002920
Reasoning:
SHIB has struggled to sustain moves above $0.00002850, indicating strong resistance.
A rejection at this level provides a favorable risk-reward ratio for short trades.
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Predictions
Bullish Case:
1. Breakout Potential: A breakout above $0.00002850 could lead to a rally toward $0.00003000 in the short term.
2. Extended Rally: Sustained momentum above $0.00003000 could push SHIB to test $0.00003200.
Bearish Case:
1. Breakdown Risk: Failure to hold $0.00002700 may result in a drop toward $0.00002650.
2. Further Correction: A breakdown below $0.00002650 could extend losses to $0.00002550.
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Conclusion
SHIB/USDT is trading within a defined range, with $0.00002700 acting as critical support and $0.00002850 as immediate resistance. Traders should monitor these levels for breakout or rejection signals before entering positions.
Risk Management Tips:
Utilize tight stop-loss levels to mitigate potential losses.
Confirm entries with trading volume and candlestick formations.
Stay disciplined and trade with confidence!#tradenern #MarketMajorComeback #BinanceListsVelodrome 
