The cryptocurrency market, a veritable carnival of chaos and confusion, has seen its fair share of ups and downs. But fear not, dear reader, for the SHIB coin has managed to claw its way back into the green zone after a rather bearish market opening.
SHIB/USD
The rate of SHIB has increased by a modest 1.18% over the last 24 hours. A triumphant victory, indeed!
On the hourly chart, the price of SHIB is looking rather bullish. If the breakout of the local resistance occurs, there is a chance to see a test of the $0.000016 range shortly. A tantalizing prospect, wouldn’t you agree?
On the daily time frame, the picture is quite the opposite. If the bar closes below the interim level of $0.000015, the accumulated energy might be enough for an ongoing correction to the $0.000014-$0.00001450 zone. A rather disheartening prospect, but alas, such is the nature of the beast.
From the midterm point of view, there are no reversal signals yet. The buyers must be sharpening their claws, waiting for the opportune moment to seize the initiative again. They need to restore the rate above the $0.000017 area to reclaim their dominance.
SHIB is trading at $0.00001533 at press time. Will the doggy dance again, or will it be relegated to the sidelines? Only time will tell.
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2025-02-19 19:39