As a seasoned crypto investor with a knack for spotting trends and understanding market dynamics, I find myself intrigued by the recent performance of SHIB. Having been through numerous bull and bear markets, I can recognize the signs of a potential breakout when I see them.
In simpler terms, some digital currencies are hitting new highs in their local markets, whereas others have fallen into a negative trend, as reported by CoinStats.
SHIB/USD
The price of SHIB has increased by 1.36% since yesterday.
On the 1-hour scale, the price of SHIB has surpassed its nearby resistance at approximately $0.00002421. If today’s candle ends significantly away from this level, an increase could potentially prompt a challenge of the $0.000025 price range in the near future.
On a day-to-day basis, there seems to be a more negative trend emerging. Currently, the value of the meme coin is approaching its support level.
If the price of today’s bar hits $0.000025, it could potentially continue climbing towards $0.000026 by the week’s end as traders observe.
Looking from a mid-point perspective, there seems to be no clear advantage for either buyers or sellers at this moment. If current trends persist until the end of the week, it appears that the price will continue to stabilize between approximately $0.000023 and $0.000026, with a continuation of the existing consolidation phase being the most probable outcome.
SHIB is trading at $0.00002456 at press time.
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2024-11-21 17:32