As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I find myself intrigued by the recent bullish trend in the market, particularly the surge in SHIB/USD. My personal journey in this digital frontier has taught me to never underestimate the unpredictability of the crypto market, but the current upward trajectory of SHIB is certainly a welcome sight.
The end of the week has turned out to be bullish for the crypto market, according to CoinStats.
SHIB/USD
Since yesterday, Shiba Inu’s rate has seen a 1.16% increase. However, over the past week, its price has experienced a decline of approximately 9.9%.
As a crypto investor, I’ve noticed that on an hourly scale, the price of SHIB has surged following a breach of the nearby resistance at $0.00001755. With the rate hovering above this level, it seems the bulls are gaining the upper hand over the bears. Under these circumstances, one might anticipate a challenge of the $0.000018 zone in the near future.
Over a longer time period, keep an eye on the daily closing price reaching the $0.00001773 mark. If it surpasses this level, the trend is expected to persist and could potentially take the price to around $0.00001850-$0.000019 within the upcoming days.
Looking at the mid-point of the investment, buyers might consider potential future growth once the price surpasses its previous resistance level of around $0.00002017.
Until it happens, there is still a chance to witness a correction to the $0.000017 area.
SHIB is trading at $0.00001793 at press time.
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2024-10-06 18:13