SHIB Holds Above Key Demand Zones, Golden Cross Potential Emerges
- Price Structure Analysis: SHIB currently trades above $0.00000715, demonstrating absorption between $0.0000070 and $0.0000075, indicating strong market demand that may lay the groundwork for future upward momentum.
- Golden Cross Potential: The convergence of the 50-EMA and 200-EMA may occur if the price breaks out of the descending wedge, and a successful move beyond $0.0000082 could enhance bullish prospects and narrow the gap between the averages.
- Market Signals: Despite a slight daily price drop, open interest has risen by approximately 6%, pushing total open interest toward $81 million, indicating that traders are consolidating rather than offloading, which validates the demand zone as a solid foundation.
- Technical Indicator Observation: With the RSI near 38 signaling mild bearish pressure, the MACD line has crossed above the signal line, and the histogram bars have turned positive, suggesting early momentum signals of base formation that may indicate a future upward trend.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 0 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0609 | 0.0686 | 0.0774 | 0.0851 | 0.0939 | 0.102 | 0.11 |
| Fibonacci | 0.0686 | 0.0749 | 0.0788 | 0.0851 | 0.0915 | 0.0954 | 0.102 |
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