SHIB is currently trading near critical support levels after a 3.79% decline in 24 hours, indicating potential further downside if $0.000013 and $0.00001282 supports fail to hold.
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SHIB price dropped 3.79% in the last day, signaling bearish momentum.
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Hourly charts show SHIB approaching key support at $0.000013, with a possible test of $0.000012 if broken.
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Midterm outlook places SHIB within a wide channel between $0.00001028 support and $0.00001234 resistance.
SHIB price analysis reveals critical support tests at $0.000013 and $0.00001282 amid bearish trends. Stay informed with COINOTAG’s expert insights.
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Most top 10 cryptocurrencies are experiencing declines today, with SHIB showing notable weakness.
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Technical indicators suggest SHIB is closer to support levels than resistance, hinting at potential further drops.
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COINOTAG’s market analysis highlights key price zones to watch for SHIB’s next movement.
SHIB price analysis highlights key support zones amid a bearish market. Get the latest updates and expert insights from COINOTAG.
What Are the Current SHIB Price Trends and Support Levels?
SHIB price has declined by 3.79% over the past 24 hours, indicating increased selling pressure. The hourly chart shows the price nearing the $0.000013 support level, which is crucial for preventing further declines. If this level is broken, SHIB could test the $0.000012 zone soon, reflecting a bearish market sentiment.
How Does SHIB’s Midterm Price Channel Affect Its Outlook?
From a midterm perspective, SHIB is trading within a broad channel bounded by support at $0.00001028 and resistance near $0.00001234. This range suggests consolidation, but a breakout below support or above resistance will likely dictate the next significant price movement. COINOTAG’s analysis indicates a cautious approach as the market remains volatile.
What Are the Key Technical Indicators for SHIB’s Price Movement?
Technical charts reveal that SHIB is closer to support than resistance on both hourly and longer time frames. A daily close below current prices could trigger a test of $0.000013 and possibly $0.00001282. Conversely, a breakout above $0.000013 may lead to a retest of the $0.0000110-$0.000012 range, signaling potential recovery.
What Does the Market Sentiment Suggest About SHIB’s Future?
Market sentiment remains bearish due to recent declines and proximity to critical support levels. Expert commentary from COINOTAG highlights the importance of monitoring these zones closely. Official data shows that if SHIB fails to hold $0.00001282, further downside momentum may accelerate, impacting investor confidence.
| Price Level | Current Value | Significance |
|---|---|---|
| Support 1 | $0.000013 | Immediate support; test could trigger further decline |
| Support 2 | $0.00001282 | Key support; breakdown may lead to $0.000012 zone |
| Resistance | $0.00001234 | Midterm resistance; breakout could signal recovery |
Frequently Asked Questions
What are the key support levels for SHIB to watch?
The primary support levels for SHIB are $0.000013 and $0.00001282. These zones are crucial for maintaining price stability and preventing further declines.
Why is SHIB’s price trending downward recently?
SHIB’s downward trend is driven by increased selling pressure and bearish technical indicators, with the price approaching significant support levels that could influence its next move.
Key Takeaways
- SHIB price declined 3.79% in the last 24 hours: Indicating bearish momentum near critical support.
- Support levels at $0.000013 and $0.00001282: These are pivotal zones that could determine SHIB’s next price direction.
- Midterm trading channel between $0.00001028 and $0.00001234: Suggests a consolidation phase with potential breakout opportunities.
Conclusion
SHIB is currently navigating key support levels amid a bearish market environment. Close monitoring of $0.000013 and $0.00001282 supports is essential for anticipating future price movements. COINOTAG will continue providing timely updates and expert analysis to help investors make informed decisions.
Most coins from the top 10 list are going down today, according to CoinStats.
SHIB chart by CoinStats
SHIB/USD
The price of SHIB has declined by 3.79% over the last 24 hours.
Image by TradingView
On the hourly chart, the rate of SHIB is closer to the support than to the resistance level. If the daily bar closes around the current prices or below, one can expect a test of the $0.000013 zone shortly.
Image by TradingView
On the longer time frame, the picture is also more bearish than bullish. If the breakout of the $0.00001282 support happens, the accumulated energy might be enough for a move to the $0.000012-$0.00001250 range.
Image by TradingView
From the midterm point of view, the rate of SHIB is in the middle of a wide channel, between the support of $0.00001028 and the resistance of $0.00001234.
However, if the breakout of the interim level of $0.000013 happens, there is a high chance of seeing a test of the $0.0000110-$0.000012 range.
SHIB is trading at $0.00001332 at press time.
