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SHIB Price Analysis for April 4

Tue, 04/04/2023 - 18:00
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Denys Serhiichuk
How long can SHIB trade sideways?
SHIB Price Analysis for April 4
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The sellers' pressure continues on the cryptocurrency market, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap
Top coins by CoinMarketCap


The price of SHIB has risen by 5.16% over the last 24 hours.

SHIB/USD chart by TradingView

Despite today's rise, the price of SHIB has met the local resistance at the $0.00001159 mark. At the moment, the rate is located in the middle of the channel and there is a low possibility of seeing any sharp moves by the end of the day.

BTC, ETH and XRP Price Analysis for April 3

All in all, sideways trading in the area of $0.00001120-$0.00001140 is the more likely scenario.

SHIB/USD chart by TradingView

Today's growth has not affected the general position of SHIB. If buyers want to seize the initiative, they need to return the rate to the $0.00001150 mark and fix above it. Only in that case, there is a chance of seeing the channel breakout, followed by a blast to the $0.0000120 zone.

SHIB/USD chart by TradingView
Image by TradingView

On the weekly time frame, the price of SHIB has once again bounced off the resistance at $0.00001169. However, the candle is far from the closure, which means that buyers have time to seize the initiative. If they succeed, the accumulated energy might be enough for a continued rise to the $0.000012-$0.000013 zone.

SHIB is trading at $0.00001120 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at