Trading Analysis of Shiba Inu (SHIBUSD) - 4 Hour timeframe
Overall Trend:
Downtrend: The price being below the 50, 100, and 200-period moving averages since June 7th suggests a strong downtrend.
Short-term movement:
Difficult to assess: A 4-hour timeframe doesn't provide enough information to definitively say if there's a current uptick or just a small consolidation within the downtrend.
Volume:
High Volume: The volume of 140 billion is significantly higher than usual, which could indicate increased selling pressure or potentially a buying opportunity depending on price action.
Momentum Indicators:
RSI (30.00 - 40.00): This indicates oversold territory. Oversold readings suggest the asset might be undervalued based on recent...
