As a researcher with extensive experience in cryptocurrency markets, I find it intriguing to observe the persistence of bulls in the market, as indicated by CoinStats. The recent surge in SHIB‘s price by 2.34% over the last 24 hours is a testament to this resilience.
Bulls are not giving up at the end of the week, according to CoinStats.
SHIB/USD
The rate of SHIB has risen by 2.34% over the last 24 hours.
On the hourly chart, the Shiba Inu coin price is shattering the nearby resistance of $0.00002510. Should buyers successfully maintain control, this uptrend could potentially carry on, reaching the $0.000026 region.
As a market analyst, I’ve observed that on the daily chart, the buying pressure has taken control following yesterday’s bearish candlestick formation, which failed to sustain the downward trend.
If the bar closes around current prices, traders may expect a test of the $0.000026 level soon.
When considering the mid-term perspective, focus on the weekly closing price reaching above $0.00002575. If this threshold is surpassed, further growth towards the $0.000027 to $0.000028 range is possible.
SHIB is trading at $0.00002515 at press time.
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2024-05-17 19:45