Analyzing the SHIB/USD price movements and predicting potential breakout scenarios based on recent trends.
Points
- SHIB price rose by 4.57% over the last day.
- Potential breakout if the daily bar closes near resistance.
- Weekly chart suggests sideways trading between $0.000016 and $0.000018.
- Current trading price of SHIB is $0.00001689.
The price of SHIB has risen by 4.57% over the last day, showing positive momentum in the short term. Analyzing the SHIB/USD pair on the hourly chart, the rate of SHIB is currently in the middle of a local channel. If the daily bar closes near the resistance level, there is a chance of a breakout, potentially moving the price to the $0.00001760 zone.
Hourly and Daily Chart Analysis
On the hourly chart, SHIB’s rate is navigating within a defined channel. Closing near resistance could indicate a potential breakout, supported by accumulated buying pressure. Observing the daily chart, attention should be paid to the candle closure around the $0.00001710 level. If the daily bar closes near this level without a long wick, it could signal enough strength for a rise to the $0.000018 range.
Weekly Chart Perspective
From a longer-term perspective, the weekly chart suggests that a fast reversal is unlikely. Even if the bar closes in the bullish zone, sideways trading between $0.000016 and $0.000018 is the more probable scenario. This indicates a consolidation phase, where SHIB could remain stable within this range before any significant price movement occurs.
At the time of writing, SHIB is trading at $0.00001689, reflecting the current market sentiment and technical indicators.
解説
- Short-Term Momentum: The recent price increase of 4.57% indicates positive short-term momentum for SHIB.
- Potential Breakout: Closing near resistance levels could trigger a breakout, pushing the price higher.
- Consolidation Phase: The weekly chart suggests a consolidation phase, indicating stability within a defined range.
- Market Sentiment: Current trading prices and technical analysis reflect the prevailing market sentiment and potential future movements.