As an analyst with over two decades of experience in the financial markets, I have seen countless bull and bear runs, and I can confidently say that the current growth of SHIB is not just another fad. The 3.69% surge over the last 24 hours is a clear sign of momentum, especially when we see the price breaking the local resistance on the hourly chart.
Bears are not going to give up so easily, according to CoinStats.
SHIB/USD
The rate of SHIB has gone up by 3.69% over the last 24 hours.
On the hourly graph, SHIB’s price is currently breaching the nearby resistance at approximately $0.00001788. Should the daily bar end above this level, we might expect further growth to potentially push prices towards the $0.00001820 to $0.00001840 range.
On a larger time scale, it’s important to pay attention to where the daily candles close. If they tend to close near their highs, there’s a possibility that the price could rise towards the $0.000019 – $0.000020 range in the near future.
On the weekly graph, there appears to be a more subdued outlook for SHIB’s price movement. Currently, it hovers near the center of a broad range.
If current trends persist until the end of the week, it seems probable that my crypto asset will continue to fluctuate within a range of around $0.000018 to $0.000020, moving sideways rather than significantly up or down.
SHIB is trading at $0.00001832 at press time.
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2024-11-05 19:19