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SHIB Price Analysis for December 3

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Sun, 3/12/2023 - 18:00
SHIB Price Analysis for December 3
Cover image via www.tradingview.com

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The bullish trend continues on the cryptocurrency market, according to CoinStats.

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SHIB chart by CoinStats

SHIB/USD

The price of SHIB has risen by 0.74% over the past day.

Image by TradingView

On the hourly chart, the rate of SHIB has bounced off the support level of $0.00000844. If the daily bar closes far from it, bulls may again seize the initiative, which can lead to $0.00000855 soon.

Image by TradingView

Today's move has not affected the technical position of SHIB on the daily time frame. If buyers want to be back in the game, they need to return the price to the resistance level of $0.00000866.

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BTC, ETH and XRP Price Analysis for December 2

Only in that case is there a chance to see further growth.

Image by TradingView

A similar situation is on the weekly chart. The price is trading within the previous bar, which means that neither side has accumulated enough energy for a further move. In this case, ongoing consolidation in the area of $0.0000080-$0.00000850 is the more likely scenario for the next days.

SHIB is trading at $0.00000848 at press time.

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