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SHIB Price Analysis for December 9

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Sat, 9/12/2023 - 17:00
SHIB Price Analysis for December 9
Cover image via www.tradingview.com

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Buyers keep dominating on the market, according to CoinStats.

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SHIB chart by CoinStats

SHIB/USD

The rate of SHIB has risen by 1% since yesterday.

Image by TradingView

Despite today's rise, the price of SHIB is looking bearish on the hourly chart as the rate is near the support level. If the situation does not change by the end of the day, the breakout may lead to a further decline to $0.00001. 

Image by TradingView

Related
DOGE Price Analysis for December 8

On the daily time frame, the rate of SHIB has made a false breakout of yesterday's bar peak. 

If bears' pressure continues, one can expect an ongoing correction to the $0.00000950 zone soon.

Image by TradingView

From the midterm point of view, there is a chance of a further upward move if the candle closes near the interim level of $0.00001050. In this case, a bull run may lead to a test of the resistance at the $0.00001136 level.

SHIB is trading at $0.00001016 at press time.

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