MyShell Market Overview

Written byTradeCipher
Saturday, Jul 19, 2025 3:21 pm ET2min read
Aime RobotAime Summary

- MyShell (SHELLUSDT) closed below 20-period SMA with bearish momentum amid a descending triangle pattern.

- RSI showed bearish divergence despite rising volume, while Bollinger Bands expanded, signaling increased volatility.

- Fibonacci 50% ($0.1667) and 61.8% ($0.1659) levels failed to hold, reinforcing bearish control over price action.

- Volume spikes during sharp declines lacked follow-through buying, indicating weak conviction in potential rebounds.

- Price may test $0.168 support or extend declines toward $0.1621, with risks of breakdowns below key levels.

• MyShell (SHELLUSDT) traded in a 24-hour range of $0.1621–$0.1713, closing near the 20-period SMA with bearish momentum.
• A bearish divergence appears in RSI despite rising volume, suggesting potential exhaustion in the rally.
• Volatility remained elevated, with price oscillating between key 15-min support at $0.165 and resistance at $0.168.
• Bollinger Bands showed a slight expansion in the final hours, indicating increasing uncertainty in price direction.
• Fibonacci retracement levels at 50% ($0.1674) and 61.8% ($0.1663) were tested multiple times, but failed to hold.

Market Overview

MyShell (SHELLUSDT) opened at $0.1679 on July 18 at 12:00 ET and closed at $0.1642 on July 19 at the same time. The 24-hour high was $0.1713, and the low was $0.1621. Total volume amounted to 6,493,344.4 units, with a notional turnover of $1,066,547.10.

Structure & Formations

Price action over the past 24 hours formed a bearish descending triangle pattern on the 15-minute chart, with a key resistance at $0.168 and support at $0.165. A long lower shadow on the final candle suggests some buyers attempted to push the price higher, but it failed to close above key resistance. A doji near the close indicates indecision and a potential pause in the downward trend.

Moving Averages

On the 15-minute chart, price closed below the 20-period and 50-period SMAs, reinforcing the bearish bias. On the daily chart, the 50-period SMA is at $0.168, the 100-period at $0.167, and the 200-period at $0.165, suggesting the price is consolidating near the 100-period SMA. This could indicate a potential short-term bounce or a continuation of the bearish trend depending on volume and follow-through.

MACD & RSI

The MACD line remained below the signal line throughout the period, with a bearish crossover observed early in the session. RSI reached an oversold level near 30 during the late hours, but failed to generate a strong rebound, indicating weakening momentum. The divergence between falling price and rising RSI may suggest a temporary pause in the downtrend.

Bollinger Bands

Bollinger Bands showed a moderate expansion during the last 6 hours of the 24-hour window, with price oscillating near the lower band. This suggests increased volatility and potential for a reversal or continuation move. However, the failure to break the upper band during strong volume spikes indicates a lack of conviction in bullish attempts.

Volume & Turnover

Volume spiked during the 19:00–20:00 ET window, coinciding with a sharp decline in price. However, the subsequent recovery failed to match the volume of the initial drop, indicating a bearish divergence. Notional turnover remained relatively stable, with no major spikes that would suggest large institutional activity. Price and turnover aligned closely during the late hours, suggesting the decline was supported by consistent selling pressure.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from $0.1621 to $0.1713, the 50% retracement at $0.1667 and 61.8% at $0.1659 were both tested but rejected. This suggests that bears remain in control, and any attempt to rally to these levels may face renewed selling pressure. On the daily chart, the 38.2% retracement of the broader move is at $0.167, a key level to watch for potential short-term support.

In the next 24 hours, MyShell may test the 50-period SMA at $0.168 for a potential bounce or consolidation, but bears could extend the decline toward $0.1621. Investors should remain cautious due to the risk of renewed bearish momentum and possible breakdowns below key support levels.

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