The 
SHIBUSDT chart is approaching a key support level at 1107, a zone where the price previously rebounded with strong bullish momentum. This level aligns with oversold conditions, making it a potential area for accumulation and a possible price rejection to the upside.
Looking at historical behavior, SHIB has shown similar bounce patterns, suggesting that a recovery from this level could target the next resistance zones at 1673 and 2798. If buyers step in again, these price levels present a structured roadmap for potential upside movements.
For confirmation, traders can wait for a break of a recent bearish swing high to indicate a trend shift, or monitor lower timeframes for market structure reversals once price reaches 1107, signaling a higher probability of a rebound.
Will SHIB repeat its previous bounce and push toward 1673 and 2798, or are we in for more downside? Share your thoughts below and let’s discuss the setup!
__
The information and publications within the 3Commas TradingView account are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by 3Commas and any of the parties acting on behalf of 3Commas, including its employees, contractors, ambassadors, etc.