đBullish on Shiba: Potential for Strong Rallyđđ„
đToday's analysis focuses on Shiba Coin (SHIB) in the daily timeframe, where it has recently experienced a remarkable 417% growth, showcasing its significant potential. SHIB is among the most popular meme coins in the market, boasting a large community of loyal holders.
đFollowing such a powerful upward movement, a correction is entirely natural and essential for sustaining a healthy trend. A trend line from the weekly timeframe has been broken, indicating the extent of the 417% movement.
đCurrently, the price is stabilizing, suggesting that considering spot buying within this range could be prudent. If the price begins to correct, waiting for confirmation candles within the range of 0.000015 to 0.000018 could be a strategic entry point.
đAlternatively, a scenario where the price finds support upon reaching the SMA25 for its next move is plausible. If the market fails to initiate movement upon reaching the SMA, patience for Fibonacci levels may be necessary.
đFor futures trading, it's advisable to sideline Shiba Coin and explore other options, considering its tendency for volatile movements and potential for easy liquidation.
đ§ đŒJust remember, jumping into trades too quickly before the main trigger can be risky. Always manage your money wisely and be aware of the risks involved.
đFollowing such a powerful upward movement, a correction is entirely natural and essential for sustaining a healthy trend. A trend line from the weekly timeframe has been broken, indicating the extent of the 417% movement.
đCurrently, the price is stabilizing, suggesting that considering spot buying within this range could be prudent. If the price begins to correct, waiting for confirmation candles within the range of 0.000015 to 0.000018 could be a strategic entry point.
đAlternatively, a scenario where the price finds support upon reaching the SMA25 for its next move is plausible. If the market fails to initiate movement upon reaching the SMA, patience for Fibonacci levels may be necessary.
đFor futures trading, it's advisable to sideline Shiba Coin and explore other options, considering its tendency for volatile movements and potential for easy liquidation.
đ§ đŒJust remember, jumping into trades too quickly before the main trigger can be risky. Always manage your money wisely and be aware of the risks involved.