Cryptocurrency prices, particularly SHIB, are showing a positive dynamic. Let's take a look at the recent changes and trends.
Current Price Changes of SHIB
The price of SHIB has increased by 2.8% in the last 24 hours, indicating a positive development in the quotes. As of now, the rate is $0.00001246.
Technical Analysis and Predictions
On the hourly chart, SHIB's rate is rising after a false breakout of the local support at $0.00001242. If bulls can keep the initiative and the daily bar closes above this mark, a test of resistance may be seen soon. However, on a longer time frame, the price is far from key levels, and the volume has dropped, indicating a lack of readiness from both bulls and bears to seize the initiative. In this context, sharp moves should not be expected soon, and sideways trading in the range of $0.000012 to $0.000013 remains the most likely scenario.
Advice for Traders
From a mid-term perspective, the situation is similar. Traders should focus on the nearest support area at $0.000012. If this level is broken, the accumulated energy might be enough to test the $0.000010 to $0.000011 range.
Current trends in the SHIB market show a positive tone, but important levels remain crucial for further development. Traders are advised to closely monitor key support and resistance zones.
