SHIB Price Prediction for August 16: Analyzing Weekend Trends

Shiba Inu (SHIB) prices saw modest gains over the past 24 hours, according to data from CoinStats. However, weekend trading dynamics suggest a shift in momentum. A look at hourly charts reveals a bearish trend after a brief false breakout above resistance at $0.00001303. If selling pressure intensifies, SHIB could dip towards the support level of $0.00001270. The broader time frame offers a more neutral outlook, with SHIB remaining trapped within a wide channel between support at $0.00001173 and resistance around $0.00001428. The lack of clear dominant trend points towards continued sideways trading in the near future. Looking ahead to the mid-term, declining volume suggests traders are unlikely to trigger significant price swings by the end of the month.