As a seasoned crypto investor with a few years of experience under my belt, I’ve learned to keep a close eye on market trends and analyze charts to make informed decisions. Today’s news that the majority of cryptocurrencies are rising according to CoinStats is certainly encouraging. One particular coin that has caught my attention is SHIB, which has seen an increase of 6.61% over the last 24 hours.
The majority of cryptocurrencies are rising today, according to CoinStats.
SHIB/USD
The rate of SHIB has increased by 6.61% over the last 24 hours.
Although the price of SHIB has climbed up recently, it continues to show positive signs on the hourly chart. The value is hovering close to its nearby resistance level at $0.00002582.
As an analyst, if the current market conditions persist until the end of the business day, I would anticipate a potential price breakout leading to a subsequent movement towards the $0.000026 to $0.00002650 range.
The daily chart indicates that the meme coin’s price has surpassed the previous resistance level of $0.00002467. If the upcoming candlestick does not exhibit a long upper wick, the bullish trend could potentially push the price up to around $0.000027 by the following week.
As a researcher observing the SHIB token on a weekly timeframe, I’ve noticed that it has rebounded from its support level at $0.00002136 once again. However, neither bulls nor bears are currently in control of the market. Consequently, I believe we’ll see continued price action within the range of $0.000024 to $0.000028.
SHIB is trading at $0.00002564 at press time.
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2024-05-04 22:35