The new week has started with a market bounce back, according to CoinStats.
SHIB/USD
The rate of SHIB has increased by 2.59% over the last 24 hours.
On the hourly chart, SHIB‘s price hovers around the middle, sandwiched between the support at $0.00002633 and resistance at $0.00002769. With much of the daily Average True Range (ATR) having been surpassed, it’s unlikely we’ll see significant price swings today.
On the daily chart, SHIB‘s recent increase hasn’t altered its technical standing. For those looking to re-enter the market, pushing the price above the short-term resistance level of $0.000028 is essential.
Only in that case, there is a chance to see a test of the resistance of $0.00002954.
Based on where we stand halfway through the week, it’s premature to make definitive predictions about the future given that the entire week lies ahead. The trading volume is decreasing, indicating a lack of conviction from both buyers and sellers to take control of the market direction.
SHIB is trading at $0.00002694 at press time.
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2024-04-22 18:46