All top 10 cryptocurrencies have closed the week in positive territory, signaling renewed investor confidence in the market.
Among these, SHIB has demonstrated notable resilience, with its price showing incremental gains and potential for further upside.
According to CoinStats, the SHIB/USD pair recently experienced a false breakout at the $0.00001333 resistance level, indicating cautious optimism among traders.
Top 10 cryptocurrencies close the week in green; SHIB shows promising signs with potential to test higher resistance levels amid steady market momentum.
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The SHIB token has recorded a modest increase of 1.24% over the past 24 hours, reflecting a steady recovery in market sentiment. On the hourly chart, SHIB attempted a breakout above the critical resistance level of $0.00001333, but this move was short-lived, classifying it as a false breakout. This suggests that while buyers are active, sellers remain vigilant at this price point.
Should the daily candlestick close at or above this resistance, it could pave the way for further gains toward the $0.00001350 range. However, the daily timeframe presents a neutral outlook, with SHIB trading within a narrow channel that limits volatility and sharp price movements in the near term.
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Source: https://en.coinotag.com/shib-shows-potential-for-moderate-gains-amid-mixed-daily-signals-top-coins-end-week-in-green/