SHIBA’s Target for Upside Movement is Determined! August 5th SHIB Analysis

• When examining SHIB’s short-term technical chart, it is observed that the price is moving within an upward trend and the upward movement can continue with closings above the level of $0.00955.
• However, if the price continues to stay below $0.00955, the downward movement can continue until the support range of $0.009149 to $0.00904. If a buying reaction is received from this support zone, a transition to an upward movement may be possible.
• In SHIB’s daily technical chart, the price has continued its upward movement to the levels of $0.0000095 by making daily closings above the level of $0.0000080. The nearest resistance zone has been determined as $0.00000987.

SHIB’s technical chart shows that it is moving within an upward trend and important levels affect the price movement. According to short-term analysis, closings above $0.00955 indicate the continuation of the upward movement, while looking at the daily chart, it can be seen that closings above $0.0000080 trigger the upward movement.

Medium-Term SHIB Analysis

Daily SHIB/USD Price Chart

When examining SHIB’s daily technical chart, it is observed that the price has made daily closings above the important resistance zone of $0.0000080. With this movement, SHIB has continued its upward movement to the levels of $0.0000095. The nearest resistance zone is currently determined as $0.00000987.

If the SHIB price makes daily closings above the level of $0.00000987, it may aim to continue its upward movement to the levels of $0.0000114. However, if it makes closings below the level of $0.00000987, it may realize the downward movement to the support line indicated as the blue support line, which is at the levels of $0.00000903.

In the daily timeframe, if the SHIB price makes daily closings above the level of $0.00000903, there is a possibility to continue the upward trend to the levels of $0.0000114.

Short-Term SHIB Price Analysis

When examining SHIB’s short-term technical chart, it is observed that the price is moving within an upward trend. Currently, the SHIB price is making hourly closings above the level of $0.00955, indicating the continuation of the upward movement. If the SHIB price continues to stay above $0.00955, it can continue its upward movement to the blue resistance line mentioned in the analysis, which is at the levels of $0.00996.

However, if the price continues to stay below the level of $0.00955, it can realize the downward movement to the support range mentioned in the analysis, which is at the levels of $0.009149 to $0.00904. If the SHIB price encounters strong buying reactions from this support range, it can initiate its upward movement from this zone and realize an upward movement towards the levels of $0.0099.

However, if the SHIB price makes hourly closings below the support of $0.00904, it can realize the downward movement to the support range mentioned in the analysis, which is the OTE zone, at the levels of $0.00891 to $0.00882. However, if it encounters strong buying reactions from this support range, there is a possibility of transitioning to an upward movement.