SHIB1000USDT: Reversal or Breakdown?
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SHIB1000USDT.P is currently trading at a critical support zone around 0.019900 USDT. After multiple tests of this level, buyers are stepping in, but is it enough to trigger a rally? ---
🔑 Key Levels:
Support:
- 0.018347 USDT — the last support level, a breakdown here could lead to further downside.
- 0.019825 USDT — current liquidity accumulation area.
Resistance:
- 0.022000 USDT — the first target in case of a bounce.
- 0.026403 USDT — a liquidity zone that could act as a magnet if the price breaks through local resistances.
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🚩 Trading Strategy:
Entry Point:
- Consider a long position if 0.019825 USDT holds with increasing volume.
Stop-Loss:
- Below 0.018347 USDT to minimize risks in case of a breakdown.
Take-Profit Targets:
- 0.022000 USDT — first target for partial profit-taking.
- 0.026403 USDT — potential target if a bullish impulse kicks in.
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📈 Technical Analysis:
- The price is testing a support level with repeated buyer reactions.
- A breakout could trigger a recovery phase with potential movement towards 0.026403 USDT.
- If the support fails, a drop to 0.018347 USDT is likely.
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💡 Conclusion:
The price is at a crossroads: a bounce could yield great profits, but a breakdown could spell trouble. Stay alert! What’s your take? Waiting for a retest or already in? Let’s discuss in the comments! 🚀
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