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SHIB Prediction for August 7

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Wed, 7/08/2024 - 15:43
SHIB Prediction for August 7
Cover image via U.Today

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Buyers have turned out to be not so powerful, according to CoinStats.

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SHIB chart by CoinStats

SHIB/USD

The price of SHIB has declined by 2.18% since yesterday.

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Image by TradingView

On the hourly chart, the rate of SHIB is trading below the local support level of $0.00001328. If the daily bar closes below it, the decline is likely to continue to the $0.000013 zone tomorrow.

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Image by TradingView

On the daily time frame, the picture is also more bearish than bullish. If a breakout of the $0.00001266 level happens, there are high chances of a test of the vital zone of $0.000010 within the next few days.

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Image by TradingView

From the midterm point of view, one should pay attention to the weekly bar closure.

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If it happens near the support level, the decline can continue until the end of the month.

SHIB is trading at $0.00001321 at press time.

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