The cryptocurrency market is still facing a correction, according to CoinStats.
SHIB/USD
The price of SHIB has declined by 1.89% since yesterday.
Although the price of SHIB dropped today, it seems poised to head lower as it approaches its previous support of $0.00002662.
If the bar is located close to the point where the price will likely reach its limit, there could be sufficient energy build-up for the price to surge towards the $0.000026 mark.
On a larger time scale, SHIB‘s price has rebounded from the $0.000028 mark once more. Currently, it’s essential to keep an eye on the nearby resistance level at $0.000026. If this level is breached by sellers, a potential slide towards testing $0.000024-$0.000025 could follow.
On the weekly chart, no signs of a price reversal have appeared as of yet. If the candle forms a close below the previous week’s lowest price, there is a strong likelihood that the price will revisit the support level of $0.00002380 before the month ends.
SHIB is trading at $0.00002694 at press time.
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2024-04-12 21:02