According to CoinStats, continued growth remains the most likely scenario for the crypto market. The Shiba Inu (SHIB) price has seen a 2.39% increase over the past day. However, despite this rise, SHIB is poised towards its local support of $0.00001589. If the resistance at this level breaks, we could see further declines to the $0.00001550 range.
On a longer timeframe, SHIB made a false breakout of yesterday’s bar peak. If today’s daily close features a long wick, bears could regain control and test the $0.000015 level soon.
Mid-term analysis reveals a false breakout of the $0.00001734 level. It’s too early to make definitive predictions this early in the week. However, if the weekly candle closes far from this level, traders might witness a test of the $0.00001450-$0.00001550 area.
SHIB is currently trading at $0.00001621. The details provided here are based on information available as of press time.