$1000SHIB — Breakdown Setup Below SMA200
Short $1000SHIB
Entry: 0.0058 – 0.0060
SL: 0.00645
TP1: 0.00560
TP2: 0.00530
TP3: 0.00490
Price is compressing below the SMA200 with the 7/30 MAs acting as overhead resistance — structure remains weak. RSI near 35 suggests soft demand rather than a confirmed reversal, while MACD momentum is marginal and lacks expansion.
If 0.0059 breaks decisively with volume, downside continuation toward 0.0056 becomes likely, with potential extension lower if selling accelerates.
Invalidation sits above 0.00645. Manage risk carefully and avoid overleveraging in volatile moves.
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