SHIBUSDT potential move to the Up Side
2025-01-15
Category: None

The SHIBUSDT market has moved lower, forming an ABCD pullback. A false breakout occurred below the lows of the last three weeks, resulting in a long-tailed bar on the weekly timeframe. The market has adhered to the downward trendline and recently rebounded from it. With the price now climbing back above the previous weekly lows (PWLs), there is a potential for it to retest that level once more.

From a broader perspective, the strongest support level is near 0.000019, and the price may gravitate toward this area again. In the midterm, however, the market is anticipated to at least retest the lower high (LH) and possibly reach the zone above it. The key focus remains on the resistance zone around 0.000023