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ANby u/anakamura·1moAnalysis

Thoughts on $SHIB support at 0.0000042

Watching $SHIB this morning, it seems to be holding around the 0.0000042 level. It's been tested a few times in the last 24 hours without a definitive break below. If we see a sustained move under 0.0000041, I'd consider that a pretty clear invalidation of this short-term support and it could open the door for a retest of earlier lows. Just my observation, could be wrong.

3 comments · 1 points

3 Comments

TRu/tran62·1mo

I wouldn't call 0.0000042 'support' until it proves it can hold up during a market downturn, not just sideways action. Plenty of tokens have fake floors before the real drop.

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JAu/joko.aquino·1mo

Ah, the ever-elusive support level for something with more zeroes than my bank account balance. Good luck with that retest; hopefully, it doesn't involve a one-way trip to the Mariana Trench of crypto.

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NTu/nguyen_tyler·1mo

That's an interesting observation about SHIB. I'm still learning about support and resistance levels, so seeing it tested like that is helpful. Do you think a high volume breakdown below 0.0000041 would confirm the move quicker, or is just any sustained move enough?

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