SHIB/USDC - (Target reached - new analysis coming soon) SHIB recovery in progress towards the upper part of the range
Market & Ticker: Shiba Inu – SHIB/USDT
Date: 09/08/2023
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
SHIB recently confirmed a pre-signal from the technical elements calling for further bullish momentum gain. At the current price the potential of SHIB Token stands at 0,00001350 and 0,00001800 maximum. On the near to mid-term basis 0,00000760 is acting as robust support to add in dip in the 0.00000980/0.00000850 right above the moving averages to anticipate a larger rise in the coming weeks.
Technical Key Elements:
- Auto similar move potential shows target at 0,00001350
- RSI indicator already confirmed the bullish momentum and keeps potential to the upside
- The Moving average are support
- Fibonacci key support is adjusted at 0,00000760 while the Elliot wave shows upside potential towards 0,00001350 and 0,00001800
Trade Idea conclusion: Buy - Conviction:
 | | Medium |
Target 2: 0,00001800
Target 1: 0,00001350
Buy: add in dip area 0.00000980/0.00000850
Stop: 0,00000760 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
