As an experienced analyst, I have closely observed the cryptocurrency market and its trends for several years. Based on my analysis of the current situation, most coins are not showing signs of a significant price move yet. This is according to CoinStats, which I consider a reliable source of information.
Most of the coins are not ready for a sharp move, according to CoinStats.
SHIB/USD
The rate of SHIB has dropped by 0.64% over the last 24 hours.
On the hourly chart, the SHIB price is approaching the nearby resistance of $0.00001826. Should the uptrend persist and the daily bar finish near the upper boundary, a potential breakthrough to the $0.000019 region could follow.
In the daily chart, no clear side is prevailing; the resistance and support levels are equally strong. This observation is further supported by the declining trading volume.
It’s more reasonable to expect price movements within the range of $0.00001750 and $0.000019 during this timeframe, without significant upward or downward trends, until the week concludes.
As a researcher studying the SHIB token, I’ve observed that its downward trend persisted following the closure of the previous candle from a midterm perspective. If this unfavorable pattern doesn’t reverse by the week’s end, it may lead to a test of the support level at $0.00001519.
SHIB is trading at $0.00001777 at press time.
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2024-06-21 19:13