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SHIB Price Analysis for December 29

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Fri, 29/12/2023 - 16:30
SHIB Price Analysis for December 29
Cover image via www.tradingview.com

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Bulls are facing problems in terms of further growth, according to CoinStats.

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SHIB chart by CoinStats

SHIB/USD

The price of SHIB has declined by 0.34% since yesterday.

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Image by TradingView

Despite today's fall, the rate of SHIB is looking bullish on the hourly chart. If the daily bar closes near the local resistance, one can expect a breakout, followed by a move to the $0.00001080-$0.00001090 area.

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Image by TradingView

On the bigger time frame, it is too early to make any price predictions as neither buyers nor sellers have enough strength for a further move. 

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All in all, consolidation in the range of $0.000010-$0.000011 is the more likely scenario for the next few days.

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Image by TradingView

From the midterm point of view, one should pay attention to the nearest level of $0.00001136. If the bar closes near it or even above, there is a chance to see a test of $0.000012.

SHIB is trading at $0.00001064 at press time.

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