As a seasoned crypto investor with years of experience under my belt, I’ve learned to navigate the volatile waters of the digital currency market with a calm and discerning eye. Today’s analysis of SHIB/USD has me intrigued, but cautiously optimistic.
Most of the cryptocurrencies keep setting new local peaks, according to CoinStats.
SHIB/USD
The rate of SHIB has fallen by 2.79% over the past day.
On the hourly chart, the price of SHIB is breaking the local support of $0.00001777.
If the daily bar closes below this mark, the drop is likely to continue to the $0.000017 area soon.
From my analysis perspective, it appears that bears are holding firm on a larger time scale and may not be ready to let go just yet. If today’s session ends with the price dipping below yesterday’s candle’s lowest point, it seems likely that we might see a retest of the $0.000016-$0.000017 range within the ensuing days.
Looking at the midpoint, neither side seems to be firmly in control because we haven’t hit significant thresholds yet. For buyers to consider a continued rise, they would need to push the price back up towards the $0.000020 region first.
SHIB is trading at $0.00001794 at press time.
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2024-10-15 18:59