Technical Analysis for SHELL/USDT on Binance
📌 Current Price: 0.6476 USDT
📈 Change in 24 Hours: +61.25%
🔺 Highest Price in 24 Hours: 0.7099 USDT
🔻 Lowest Price in 24 Hours: 0.4018 USDT
📊 Trading Volume in 24 Hours: 106,743,593 SHELL (~69.3 million USDT)
🛠️ Technical Outlook on Price Movement
🔹 Price Trend: The current trend shows a strong increase of over 60% in 24 hours, indicating notable bullish momentum.
🔹 Support and Resistance Levels:
Near support at 0.6374 USDT (VWAP 1h) next support at 0.6264 USDT strong resistance at 0.7099 USDT (daily high)
🔹 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. Relative Strength Index (RSI 14) at 47.33 indicates relative neutrality, which may suggest continued fluctuations before the next direction is taken.
📌 Upcoming Trend Predictions
🔸 Positive Scenario: If the price stays above 0.6374 USDT and breaks through resistance at 0.7099 USDT, we may witness a new upward movement targeting 0.75 – 0.80 USDT.
🔸 Negative Scenario: Breaking support at 0.6374 USDT could lead to a price decline towards 0.62 – 0.60 USDT, which may attract new buying from these levels.
🚨 Note: This is purely technical analysis and does not constitute investment advice. Traders should manage risks and make decisions based on their own analysis.
📊 What are your predictions for SHELL's movement? Share your thoughts in the comments! 🔥
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