As an experienced analyst, I’ve seen my fair share of market fluctuations and trends. Based on the current data provided by CoinStats regarding the SHIB/USD pair, it appears that buyers are making a comeback. The price of SHIB has shown a significant increase of 4.57% over the last day.
Buyers are back in the game, according to CoinStats.
SHIB/USD
The price of SHIB has risen by 4.57% over the last day.
As an analyst, I observe that the hourly chart for SHIB places its rate right in the middle of the local channel. Yet, if the daily bar manages to close in proximity to the resistance level, there’s a potential for a breakout. Subsequently, such a move could propel the rate towards the $0.00001760 zone.
Regarding the larger time scale, it’s important to focus on where the candle closes in relation to the price level of $0.00001710.
If an event occurs close by and without a prolonged fuse, the amassed power could potentially propel it up to the $0.000018 level.
On the weekly timeframe, it’s unlikely for a rapid reversal to occur, despite the potential for the candle to close within the bullish range. Instead, trading in a sideways pattern between $0.000016 and $0.000018 is more probable.
SHIB is trading at $0.00001689 at press time.
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2024-07-13 18:47