As an experienced financial analyst, I have closely monitored the cryptocurrency market for years. Based on the latest data from CoinStats, some coins from the top 10 list are showing signs of recovery. One of these coins is SHIB, whose rate has risen by 2.49% since yesterday.
Some coins from the top 10 list are bouncing back, according to CoinStats.
SHIB/USD
The rate of SHIB has risen by 2.49% since yesterday.
As a crypto investor, I’m observing that the altcoin’s price currently hovers around the midpoint of its local price channel. Specifically, it’s sitting between the support level at $0.00001797 and the resistance level at $0.00001891. Given this situation, it seems reasonable to anticipate sideways trading near the $0.00001850 mark throughout the day, unless there are significant market developments that might shift the trend.
From a longer-term perspective, both parties find themselves in a comparable position. Neither side holds significant advantage, implying that major shifts or sudden developments are unlikely to occur anytime soon.
As a crypto investor, if the price drops down to $0.000017 again, I would keep an eye out for a potential test of that level as support.
From my perspective as an analyst, I observe that the downward trend persists on the weekly chart, with no signs of a reversal emerging as of now. The price has yet to dip below the $0.000020 threshold, and if it does, we might expect additional corrections in the market.
SHIB is trading at $0.00001859 at press time.
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2024-06-19 16:47