Technical Analysis of SHELL/USDT on Binance
๐ Current Price: 0.6476 USDT
๐ Change Over 24 Hours: +61.25%
๐บ Highest Price Over 24 Hours: 0.7099 USDT
๐ป Lowest Price Over 24 Hours: 0.4018 USDT
๐ Trading Volume Over 24 Hours: 106,743,593 SHELL (~69.3 million USDT)
๐ ๏ธ Technical Outlook on Price Movement
๐น Price Trend: The current trend shows a strong increase of over 60% in 24 hours, indicating significant upward momentum.
๐น Support and Resistance Levels:
Nearby support at 0.6374 USDT (VWAP 1h), next support at 0.6264 USDT, strong resistance at 0.7099 USDT (daily high)
๐น Technical Indicators:
VWAP (Volume Weighted Average Price) at 0.6374 USDT indicates a dynamic support level. EMA 50 & SMA 50: the price remains above these averages, supporting the upward trend. The Relative Strength Index (RSI 14) at 47.33 indicates relative neutrality, which may mean continued volatility before the next direction is taken.
๐ Forecast for the Next Trend
๐ธ Positive Scenario: If the price remains above 0.6374 USDT and breaks the resistance at 0.7099 USDT, we may see new upward movement targeting 0.75 โ 0.80 USDT.
๐ธ Negative Scenario: Breaking the support at 0.6374 USDT may lead to a price decline towards 0.62 โ 0.60 USDT, which may attract new buying from these levels.
๐จ Note: This analysis is purely technical and does not constitute investment advice. Traders should manage risks and make decisions based on their own analysis.
๐ What are your expectations for SHELL's movement? Share your thoughts in the comments! ๐ฅ
#cryptotrading
#SHELLUSDT
#Binance
#CryptoAnalysis
#TradingSignals
