As a seasoned analyst with years of experience navigating the volatile crypto market, I find myself intrigued by this latest development in SHIB/USD. While the short-term outlook is bullish, with the rate attempting to break the local resistance at $0.00001301 and a potential continuation up to $0.00001340, I remain cautiously optimistic.
The end of the week is bullish for the crypto market, according to CoinStats.
SHIB/USD
The price of SHIB has gone up by 1.06% over the past 24 hours.
On the one-hour graph, Shiba Inu’s price is attempting to surpass its nearby resistance level at approximately 0.00001301 USD. If buyers successfully achieve this, it seems likely that the uptrend towards 0.00001340 USD will persist further.
Looking at the broader perspective, the price of the meme coin has rebounded and is currently increasing, having recovered from its support level at approximately $0.00001244. To continue the upward trend, buyers must aim to push the rate back towards the region around $0.000014.
Looking at the interim perspective, things seem somewhat less optimistic. The Shiba Inu coin’s rate continues to hover around its support level at approximately $0.00001266.
If a breakout occurs, there’s a possibility that prices could drop and reach the $0.000011 to $0.000012 price range by the end of this month.
SHIB is trading at $0.000013 at press time.
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2024-09-08 21:16