As a seasoned crypto investor with a knack for spotting trends and a penchant for Shiba Inu (SHIB), I find myself intrigued by this latest development. The 0.64% dip over the last day doesn’t faze me too much, given the rollercoaster ride that is the crypto market. However, the hourly chart’s local support level of $0.00001405 is a red flag I can’t ignore. If the price breaches this level, it might be time to brace for a test at $0.00001380 tomorrow.
Some coins remain bullish while others have returned to the red zone, according to CoinStats.
SHIB/USD
The price of SHIB has fallen by 0.64% over the last day.
On the one-hour scale, SHIB‘s current price is close to a nearby support point of around 0.00001405 USD. Should it breach this level, there could be a potential drop that might reach the vicinity of 0.00001380 USD by tomorrow.
For now, on a day-by-day basis, it seems we’re looking at a period of sideways trading as the preferred trend. Bulls might consider a potential rise if they manage to push the price back up to the support level of $0.00001455 and establish a strong position above it.
On the weekly chart, traders should pay attention to the close in terms of the current candle peak.
Without a prolonged wick, the price movement might extend towards the $0.000015 – $0.000016 range and persist until the end of this month.
SHIB is trading at $0.00001412 at press time.
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2024-09-20 19:43