The cryptocurrency market shows stability for Shiba Inu (SHIB), which has recently demonstrated a move towards growth.
General Overview of SHIB Market
Over the past 24 hours, the SHIB rate has increased by 0.66%. On the hourly chart, the price of SHIB is in the middle of a local channel, between the support level of $0.00001212 and the resistance level of $0.00001257.
Short-term Forecast
Given the current ATR metrics, sharp price fluctuations are unlikely to be observed until tomorrow. Traders should focus on resistance at $0.00001257, as a breakout could lead to testing the $0.000013 zone soon.
Medium-term Prospects
From a medium-term perspective, the price of SHIB remains within the previous weekly candle. Currently, attention should be paid to the interim zone of $0.00001150. If the price closes below this level, a further decline to the $0.000010 area is possible.
As of now, SHIB is trading at $0.00001235. Analyzing these levels of support and resistance may help traders make more informed decisions.
