Elliott Wave Structure:
Wave Count:
The chart illustrates a completed 5-wave corrective structure (labeled 1 through 5 in yellow).
A possible ABC corrective wave is underway, suggesting the start of a bullish retracement phase.
Breakout Potential:
Price is testing a key resistance level at 0.000027, a critical zone to confirm bullish continuation.
If the resistance is broken, we may see a rally targeting higher Fibonacci extension levels.
Key Indicators:
Descending Channel:
The pair is breaking out of the long-term descending channel, indicating a shift in market sentiment.
High-High Momentum:
Consecutive higher highs suggest growing buyer interest.
A sustained move above the Ichimoku cloud confirms bullish dominance.
Targets:
Immediate Resistance: 0.000027 (critical breakout level).
Fibonacci Target: 0.000032 (short-term upside).
Conclusion:
SHIBA/USDT is positioned at a pivotal resistance zone, with a potential for a bullish breakout to 0.000032. However, failure to sustain above 0.000027 could lead to retesting lower supports.
📢 Disclaimer:
This analysis is for informational purposes only and is not financial advice. Please conduct your own research before making trading decisions. 🛑
Wave Count:
The chart illustrates a completed 5-wave corrective structure (labeled 1 through 5 in yellow).
A possible ABC corrective wave is underway, suggesting the start of a bullish retracement phase.
Breakout Potential:
Price is testing a key resistance level at 0.000027, a critical zone to confirm bullish continuation.
If the resistance is broken, we may see a rally targeting higher Fibonacci extension levels.
Key Indicators:
Descending Channel:
The pair is breaking out of the long-term descending channel, indicating a shift in market sentiment.
High-High Momentum:
Consecutive higher highs suggest growing buyer interest.
A sustained move above the Ichimoku cloud confirms bullish dominance.
Targets:
Immediate Resistance: 0.000027 (critical breakout level).
Fibonacci Target: 0.000032 (short-term upside).
Conclusion:
SHIBA/USDT is positioned at a pivotal resistance zone, with a potential for a bullish breakout to 0.000032. However, failure to sustain above 0.000027 could lead to retesting lower supports.
📢 Disclaimer:
This analysis is for informational purposes only and is not financial advice. Please conduct your own research before making trading decisions. 🛑
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.