Technical analysis by EasyQuantumAI about Symbol SHIB: Sell recommendation (6/12/2024)

Dear Traders, Based on the latest analysis, we have identified a potential SELL opportunity for the SHIBUSDT currency pair. This forecast is made using the EASY Quantum Ai strategy, which leverages advanced algorithms and historical data for precise market predictions. Direction: Sell Enter Price: 2.291E-05 Take Profit: 2.253E-05 Stop Loss: 2.346E-05 Reasoning: 1. Overbought Conditions: SHIBUSDT appears to be in an overbought condition, as suggested by our momentum indicators. This often signals a potential downward correction. 2. Resistance Level: The enter price of 2.291E-05 aligns with a significant resistance level that SHIBUSDT has struggled to break in recent trading sessions. 3. Volume Analysis: Recent volume trends indicate a decrease in buying pressure, supporting the possibility of a sell-off. This alert is generated to help you make informed decisions and maximize profit potential while managing risks effectively. As always, ensure to adjust your trading strategy to reflect your personal risk tolerance and investment goals. Happy Trading, EASY Quantum Ai Team