The price of SHIB has fallen by 0.64% over the last day. Let's examine the current state and forecasts for this cryptocurrency on different time frames.
Current Situation on the Hourly Chart
On the hourly chart, the price of SHIB is trading near the local support level of $0.00001405. If its breakout happens, the drop may lead to the test of the $0.00001380 zone tomorrow.
Outlook on the Daily Chart
On the daily time frame, sideways trading remains the most likely scenario. Bulls may start thinking about an upward move only when they get back the price to the support of $0.00001455 and find footing above it.
Weekly Chart Analysis
On the weekly chart, traders should pay attention to the close in terms of the current candle peak. If it happens with no long wick, the growth may continue to the $0.000015-$0.000016 range until the end of the month.
SHIB is trading at $0.00001412 at press time. The current state and support levels could significantly impact the future price dynamics.
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