The bounce back may have finished on the cryptocurrency market, according to CoinMarketCap.
SHIB/USD
The rate of SHIB has declined by 2.49% over the last 24 hours.
Although the price of SHIB dropped today, it appears optimistic on the hourly chart as it hovers close to its local resistance level.
If buyers manage to maintain control, there’s a possibility for a surge towards the $0.000023 mark.
Looking at the larger picture, SHIB‘s rate of increase has been building steam but hasn’t tipped the scale towards clear dominance yet. Consequently, a period of consolidation between $0.000020 and $0.000024 seems plausible over the next few days until we see a decisive shift in the market.
Looking at the midterm perspective, the situation appears rather consistent. The market volatility has lessened, suggesting that both buyers and sellers have lost some of their power. As a result, traders might anticipate price movement in a relatively narrow range around the current levels over the next few days.
SHIB is trading at $0.00002216 at press time.
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2024-04-16 18:59