This week, all top 10 cryptocurrencies have demonstrated positive dynamics, indicating a revival of investor interest in the market.
Market Overview
According to CoinStats, all top 10 cryptocurrencies are in the green zone at the end of this week. This indicates that the market is actively responding to changes and anticipating new movements.
SHIB/USD Price Analysis
The price of SHIB has risen by 1.24% since yesterday. On the hourly chart, there was a false breakout of the $0.00001333 resistance level. However, if the daily bar closes around this level or higher, growth may continue to the $0.00001350 range.
Growth Prospects for SHIB
On the daily timeframe, the price of SHIB is in the middle of a narrow channel, which means sharp price movements are unlikely to occur in the near future. From a mid-term perspective, if the rate fixes above the resistance of $0.00001344, traders may witness a test of the $0.000015 zone by the end of the month. Currently, SHIB is trading at $0.00001330.
Thus, the positive dynamics in the cryptocurrency market, including the price increase of SHIB, indicate a growing investor interest and potential for further price increases.
