SHIB/USDT Trading Scenario Update
2024-10-03

After a significant increase in February and reaching a local maximum of $0.00004575, the price declined to the $0.00001080 mark, which represented a drop of over 76%. As a result of this decline, the quote nearly reached the POC volume level at $0.00001032. 

Near this level, a rebound was observed, followed by an attempt at recovery. From the perspective of Fibonacci levels, the current asset price is within a favorable range for purchases (between 1 and 0.75). 

In this range, medium-term purchases can be considered with a target price of $0.00002746, which corresponds to the 0.5 Fibonacci level.