Has price of SHIB accumulated enough energy for midterm rise? Advertisement

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The market remains bullish today, according to CoinStats.

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SHIB/USD

The price of SHIB has increased by 4.63% over the last day.

On the hourly chart, the rate of SHIB is going up after a breakout of the local resistance of $0.00001239. If buyers can hold the gained initiative and the bar closes far from that mark, one can expect a test of the $0.000013 area.

On the bigger time frame, the picture is also bullish. One should pay attention to the daily candle closure in terms of the $0.00001244 level.

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If it happens above it and with no long wick, the upward move is likely to continue to the $0.000013-$0.00001350 range.

From the midterm point of view, the rate of SHIB has bounced off the support level of $0.00001078. If the weekly bar closes near $0.000013, there is a chance of a test of the $0.000014 mark soon.

SHIB is trading at $0.00001256 at press time.