As a seasoned researcher with over a decade of experience in the cryptocurrency market, I have seen my fair share of bull and bear runs, and I must admit that the current state of Shiba Inu (SHIB) is a familiar sight. The coin’s performance over the past 24 hours, with a decline of 3.32%, is reminiscent of the market fluctuations I witnessed during my early days in this field.
On the hourly chart, SHIB appears to be treading water between its support and resistance levels, which is not uncommon for a coin in a consolidation phase like this one. With most of the ATR having been passed, it seems that any sharp moves are unlikely today, but I’ve learned to never underestimate the market’s ability to surprise us.
From a midterm perspective, the bearish sentiment continues to linger over SHIB, and if the rate were to fall below the $0.00002095 level, it could potentially trigger an ongoing correction towards the $0.000018 mark. However, I’ve also seen coins defy expectations and stage a comeback when least expected, so I remain cautiously optimistic.
In terms of life experience, I can confidently say that this market has taught me to always expect the unexpected. As for humor, let me share a little joke that I find amusing in these times: Why did the crypto trader go broke? Because he tried to catch a falling knife and ended up slicing his portfolio! So remember, be patient, do your research, and never try to catch a falling coin with your bare hands.
Most of the coins remain in the red zone at the beginning of 2025, according to CoinStats.
SHIB/USD
The rate of SHIB has declined by 3.32% over the last 24 hours.
On the hourly chart, the Shiba Inu (SHIB) price hovers around its current local range. This means it’s situated between the supportive level at approximately $0.00002071 and the resistant level at roughly $0.00002151.
As most of the ATR has been passed, any sharp moves are unlikely to happen today.
Looking at the long-term perspective, it’s advisable to concentrate on approaching the significant level of approximately 0.00002053. If a breakout occurs, the built-up energy could potentially lead to a quick test of the 0.000020 range shortly.
Looking at the midterm outlook, the trend appears to be negative as well. Should the rate dip beneath the $0.00002095 threshold, traders might observe a continued adjustment down towards the $0.000018 price point.
SHIB is trading at $0.00002124 at press time.
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2025-01-01 17:33