As a seasoned analyst with years of market experience under my belt, I’ve seen more than a few bull runs and bear markets come and go. Looking at the current state of SHIB/USD, it appears we might be on the brink of another bullish surge, at least for the short term.
Bulls are more powerful than bears at the beginning of the weekend, according to CoinStats.
SHIB/USD
The price of SHIB has risen by 1.34% since yesterday.
On the hourly chart, the price of SHIB has increased following a breakthrough above the resistance level at $0.00001333. If buyers maintain control over this momentum until the end of trading today, an uptrend could potentially push the price towards the $0.00001350 region in the near future.
On the daily chart, there seems to be a less optimistic outlook. If the price ends up near its current level, it may not have enough momentum to sustain an uptrend further.
Overall, it seems probable that the cryptocurrency will continue to trade within the range of approximately $0.000013 to $0.00001380 for the coming days.
On the weekly graph, SHIB‘s rate stays under the potential support point of 0.00001266 USD. If this downward trend persists, there might be a possibility of a breakthrough leading to a decline towards the range of 0.000011 USD to 0.000012 USD.
SHIB is trading at $0.00001335 at press time.
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2024-08-17 19:26