SHIB/USDT Trading Scenario
Amid the overall negativity in the cryptocurrency market, SHIB has significantly dropped in price, falling from a local high of $0.00004605 to $0.00001272. This decline amounts to more than 70%. The asset's price has nearly reached a range of global interest among participants, as confirmed by the volume profile. Currently, there is an attempt to recover the price and consolidate below the downward-sloping resistance level.
We can anticipate a breakout of the downward-sloping resistance level, followed by consolidation above it and further price growth. The resistance level may be at $0.00002963.
However, the possibility of continued price decline should not be ruled out, with a potential drop to the Point of Control (POC) at $0.00001032 and a subsequent bounce from that level.
We can anticipate a breakout of the downward-sloping resistance level, followed by consolidation above it and further price growth. The resistance level may be at $0.00002963.
However, the possibility of continued price decline should not be ruled out, with a potential drop to the Point of Control (POC) at $0.00001032 and a subsequent bounce from that level.
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