As a seasoned crypto investor with battle scars from the 2017 bull run and the subsequent bear market, I’ve learned to navigate the volatile seas of cryptocurrency with a steady hand and an open mind. Today, reading about SHIB‘s 6.47% drop over the last day on CoinStats made me wince, but not flinch.
The crypto market has turned red, according to CoinStats.
SHIB/USD
The rate of SHIB has dropped by 6.47% over the last day.
On the hourly chart, the price of SHIB appears to be trending positively and is on the verge of surpassing its current resistance level at approximately $0.00002449. If it successfully breaks this barrier, there’s a potential for the price to reach as high as $0.000025 by tomorrow.
On a daily basis, the outlook isn’t as optimistic. Even if today ends with an uptrend, the overall momentum doesn’t seem strong enough to sustain further growth.
In this case, sideways trading in the zone of $0.000023-$0.000026 is the more likely scenario.
Looking at midterm perspectives, focus on where the candle ends relative to the previous bar’s lowest point. If the end falls below approximately $0.00002418, there might be a continuation of the correction down to the next potential support level at around $0.00002107.
SHIB is trading at $0.00002446 at press time.
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2024-12-19 16:44