As a seasoned crypto investor with several years of experience under my belt, I’ve seen my fair share of market fluctuations and bearish trends. Today’s news that SHIB/USD is down by 5.44% and setting new local lows is disheartening but not entirely surprising.
Coins keep setting new local lows, according to CoinStats.
SHIB/USD
SHIB is no exception to the rule, going down by 5.44%.
Although the price of SHIB decreased today, it appears to be trending downward on the short-term chart. If the cost can rebound to its support level at $0.00001635, there may be sufficient momentum for a surge towards the $0.000016 range.
When examining the daily chart, it’s important to note the closing price of each bar in relation to the intermediate support level of $0.00001696.
If the candle closes below it, the correction is likely to continue to $0.00001519.
As a researcher studying the price trends of SHIB over an extended timeframe, I’ve observed that the current prices are significantly lower than key resistance levels. However, should the candlestick close below the most recent low, it’s likely that SHIB will retest the $0.000015 support range within the upcoming weeks.
SHIB is trading at $0.00001680 at press time.
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2024-06-24 19:30