SHIBUSDT
Failing to break above 52 level, SHIBUSDT is reversing to previous consolidation area 31 - 27 . Good for short positions but for long position holders, recommend selling on strength, possible bounce on MA50 daily, and reenter at marked previous consolidation levels.
Trade active:
Resistance @ .52 level after bouncing at daily MA50 momentum still downward unless major news catalyst come into play, price movement will still continue current trajectory.
Comment:
SHIBUSDT has followed major BTC selloff and momentum sill headed towards below 27 level. Revisiting the previous consolidation area is possible since crypto market is seeing some exits of long positions. Test buy at possible 23 to25 level with tight cut loss if you are a trader. Otherwise if long term, that level is a good entry for me.
Comment:
Previous breakout point of 0.000030 level has served so far as a strong support and stops downward momentum. Resistance need to break 0.00004050 level to confirm reversal of trend.
Trade active:
SHIBUSDT as anticipated returned to previous consolidation box and is a good area to enter for long position. Set tight stop loss if it slips bottom of consolidation box. Those who are averaging on this crypto should consider entering at this area.