The market has turned red again, with SHIB's decline being a clear indication. Let's explore what this means for investors and traders.
Current SHIB Price Analysis
The price of SHIB has fallen by 3.61% since yesterday. On the hourly chart, SHIB is closer to the support than to the resistance level. If the picture remains the same by the end of the day, there is a chance to see a test of $0.00001789.
Potential Support and Resistance Levels
On the bigger time frame, the price of SHIB is far from the main levels. However, if bulls lose the interim level of $0.00001750, traders may expect an ongoing downward move to the $0.000017 area soon.
Mid-term Expectations
From the midterm point of view, bears are also controlling the situation on the market. If the weekly bar closes near its low, the decline is likely to continue to the nearest support level of $0.00001550.
SHIB is trading at $0.00001813 at press time. Market changes warn of potential volatility, but investors and traders should monitor key levels.
