Currently, the week is characterized by a bearish trend in the cryptocurrency market. Particular attention is being paid to the price movement of SHIB, which is showing significant decline.
Overall SHIB Market Status
At present, the price of SHIB has fallen by 2.64% over the last day. Market trends indicate a bearish sentiment.
Current Price Levels and Resistance
On the hourly chart, SHIB is expected to break the local resistance level of $0.00001109. If successful, a bar closure near this level may lead to further movement towards $0.00001150.
Predictions and Possible Scenarios
On a larger timeframe, the price of SHIB has once again bounced off the support at $0.00001028. Future growth prospects may require time for bulls to gain energy, leading to consolidation in the narrow range of $0.00001050 to $0.00001150.
The current SHIB quote stands at $0.00001104. Investors should pay attention to the weekly candle's closure around the $0.00001078 level as this may indicate potential movement towards the $0.000012 zone.
