Technical Analysis
$SHIB 1. Trend & Price Action
* Bullish Momentum: The coin is currently in a short-term uptrend on the 1-hour timeframe. It recently rallied from a low of 0.00000702 to a local high of 0.00000741.
* Current Consolidation: The price is presently trading at 0.00000736, having pulled back slightly from the local peak. This indicates a "cool-off" period or minor profit-taking after the recent spike.
* Candlestick Pattern: The most recent candles are small-bodied, suggesting a temporary loss of momentum or indecision as the price tests the support provided by the moving averages.
2. Moving Averages (MA)
* MA(7) - Yellow: The price is currently resting right on the 7-period Moving Average (0.00000733). As long as it stays above this line, the immediate bullish trend is intact.
* MA(25) - Pink: This is trailing below at 0.00000724. This serves as the next dynamic support level if the MA(7) fails.
* MA(99) - Purple: This long-term average is at 0.00000718. The fact that the price is well above all three MAs indicates a strong bullish structure in this specific timeframe.
3. Volume Analysis
* The volume bars at the bottom of the chart show that the recent upward move was backed by significant buying volume (green bars). However, the volume has started to taper off during the current consolidation, which is typical before a secondary move.
Support and Resistance Levels
* Immediate Resistance: 0.00000741 (Recent high). A break above this level with high volume would signal a continuation toward 0.00000750+.
* Immediate Support: 0.00000733 (MA 7).
* Key Structural Support: 0.00000724 (MA 25). If the price falls below this, the short-term bullish thesis is invalidated.
The Next Move: Prediction
> Scenario A (Bullish - 65% Probability):
> The price will likely consolidate between 0.00000733 and 0.00000738 for a few hours to gather strength. If it maintains its position above the MA(7), expect another leg up to test or break the 0.00000741 resistance.
>
> Scenario B (Bearish/Correction - 35% Probability):
> If the price fails to hold the MA(7) (0.00000733), it will likely drop to the 0.00000724 level (MA 25) to retest support before attempting another bounce.
>
Final Verdict
The chart is Short-Term Bullish. The trend is currently upward, and the moving averages are providing clear support. Traders should look for a breakout above 0.00000741 for a "Buy" signal or wait for a dip to 0.00000725 for a better entry point.
#SHIB #USBitcoinReservesSurge #BitcoinETFMajorInflows #BinanceAlphaAlert #FranceBTCReserveBill