SHIB, or Shiba Inu, is a cryptocurrency that has recently seen a 0.12% price increase. Currently trading at $0.00001290, it is experiencing sideways movement between key support and resistance levels.
Current Price Movement: SHIB is trading at $0.00001290 with a slight increase over the last day.
Market Sentiment: The market is currently bearish, indicating potential downward pressure.
Price Range: SHIB is fluctuating between support at $0.00001173 and resistance at $0.00001428.
Stay updated on SHIB’s price movements and market trends. Learn more about cryptocurrency trading today!
What is SHIB?
SHIB, or Shiba Inu, is a decentralized cryptocurrency that has gained popularity as a meme coin. Currently, SHIB is trading at $0.00001290, reflecting a 0.12% increase over the last day.
How does SHIB perform in the market?
SHIB’s performance shows a bearish trend on the hourly chart, with a recent false breakout at the resistance level of $0.00001303. If selling pressure persists, a drop to the $0.00001270 area is anticipated. The overall market sentiment remains neutral, with ongoing sideways trading expected.
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The key support level for SHIB is at $0.00001173, while the resistance level is at $0.00001428, indicating a wide trading range.
SHIB is experiencing sideways trading due to a lack of strong buying or selling pressure, with the price fluctuating within established support and resistance levels.
In summary, SHIB is currently trading at $0.00001290, showing a slight increase of 0.12%. The market is experiencing bearish sentiment, with key support and resistance levels established. As trading continues, investors should monitor these levels closely for potential price movements.
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Source: https://en.coinotag.com/shib-price-analysis-potential-sideways-trading-amidst-bearish-pressure-and-low-volume/