As a seasoned analyst with over a decade of experience in the cryptocurrency market, I have seen more than a few bull and bear runs. Based on the current trend, it appears that SHIB is under bearish pressure, at least for now.
Sellers might have seized the initiative, according to CoinStats.
SHIB/USD
The rate of SHIB has fallen by 5.89% since yesterday.
On an hourly basis, the value of SHIB is experiencing downward pressure from the bears. Should the day’s closing price be around $0.00002144, it seems likely that a test of approximately $0.00002120 could occur by tomorrow.
Looking at a broader perspective, we haven’t seen any signs of a turnaround as of now. Following yesterday’s bearish finish, the trend seems to be decreasing, but it hasn’t shown any clear indications of an upturn yet.
If bulls don’t take control quickly, it’s possible that the price could drop down to around $0.00002012, as observed by traders in the near future.
Looking from a midterm perspective, the current weekly trend appears bearish. But we still have a few days left before it concludes. Should no significant changes occur, there’s a likelihood that the downward trend will persist and reach the $0.000018 level.
SHIB is trading at $0.00002169 at press time.
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2024-12-26 17:53