As a seasoned analyst with a decade of experience navigating the volatile crypto markets, I’ve seen my fair share of bull runs and bear markets. Today, looking at the current state of SHIB/USD, I find myself optimistic yet cautiously so. The recent 5.34% surge since yesterday is an encouraging sign, but it’s crucial to remember that this market can be as unpredictable as a roller coaster ride in a theme park.
Most of the coins keep trading in the green zone, according to CoinMarketCap.
SHIB/USD
The price of SHIB has gone up by 5.34% since yesterday.
After a misleading drop below the nearby support of $0.00001475, the Shiba Inu coin’s rate has been on an uptrend. If this upward trend persists, there could be a potential test of the $0.000016 level tomorrow when it reaches the resistance.
Over a larger time period, it’s essential to focus on where the daily bars close. If they tend to close near their highest point, traders might observe a challenge to the resistance level of approximately $0.00001605 by the end of the week.
Looking at the midterm perspective, the value of the meme coin is significantly below important price points. Yet, if the upward trend extends to the interim range of around $0.000016, there could be potential for further growth towards approximately $0.000018.
SHIB is trading at $0.00001538 at press time.
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2024-09-25 18:26