As a seasoned crypto investor with a knack for spotting trends and analyzing charts, I find myself intrigued by the current state of SHIB. With over five years of experience under my belt, I’ve learned to read between the lines when it comes to market movements.
On the final day of the week, the general trend tends to be upward (bullish), but there may be a few exceptions, as suggested by CoinMarketCap.
SHIB/USD
The rate of SHIB has increased by 0.56% over the past day.
On an hourly basis, the SHIB price is heading back towards its local support of approximately 0.00001406 USD. If buyers don’t take control by the end of the trading day, there’s a likelihood of a breakout leading to a potential fall to around 0.00001390 USD.
Over a longer period, the market seems likely to close at a level significantly lower than its current high. If conditions remain unchanged, it could signal a return for the bearish trend, potentially pushing prices towards the $0.000014 mark again.
Looking from a midterm perspective, the SHIB rate appears to have prematurely breached its support level at approximately $0.00001266.
As an analyst, I anticipate that if this week’s candle concludes near its current price levels, we might observe a period of consolidation or sideways movement within the range of approximately $0.000013 to $0.000015 over the coming days.
SHIB is trading at $0.00001415 at press time.
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2024-08-11 15:49