SHIB's price has increased by 3.61% over the last day, indicating a potential further rise. Let's take a closer look at the current market trends and forecasts.
Hourly Chart Analysis
On the hourly chart, the trend remains bullish. If the breakout of the local resistance occurs, there is a higher likelihood of rising to $0.00001330 tomorrow.
Daily Timeframe and Outlook
On the daily chart, the daily bar is about to close bullish. However, there are low chances of continued upward movement, as not enough energy has been accumulated so far. In this case, sideways trading in the range of $0.00001250-$0.00001350 is the more likely scenario by the end of the week.
Midterm Expectations
From the midterm perspective, neither bulls nor bears are dominating the market. If the weekly candle closes around the current prices, traders are unlikely to witness sharp moves.
At press time, SHIB is trading at $0.00001289. Midterm and short-term forecasts suggest various scenarios without clear domination by either side.
