As a seasoned crypto investor with a decade of experience under my belt, I’ve seen my fair share of market ups and downs. The recent trend of SHIB/USD is causing a bit of concern, but it’s nothing that hasn’t happened before. The 2.18% decline since yesterday is just another reminder that the market can be as unpredictable as a rollercoaster ride.
Buyers have turned out to be not so powerful, according to CoinStats.
SHIB/USD
The price of SHIB has declined by 2.18% since yesterday.
Looking at the one-hour chart, the price of SHIB is currently lower than its local support level of approximately 0.00001328 USD. If today’s daily candle closes below this level, it might signal a potential continuation of the downward trend towards around 0.000013 USD tomorrow.
In simpler terms, the daily chart shows more signs of a downtrend rather than an uptrend. If the price breaches the $0.00001266 level, it’s likely that it will test the significant support level around $0.000010 within the next few days.
From the midterm point of view, one should pay attention to the weekly bar closure.
If it happens near the support level, the decline can continue until the end of the month.
SHIB is trading at $0.00001321 at press time.
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2024-08-07 18:53