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SHIB Price Analysis for February 25

Sat, 02/25/2023 - 18:00
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Denys Serhiichuk
Is price of SHIB ready for reversal?
SHIB Price Analysis for February 25
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Bears remain more powerful than bulls as the rates of coins keep falling.

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The price of SHIB has fallen by almost 5% over the past 24 hours.

SHIB/USD chart by TradingView

On the hourly chart, the price of SHIB has bounced off the local support level at $0.00001234. While the rate is above it, a correction is possible to the middle of the channel, to around the $0.00001250 zone.

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However, if that does not happen, a breakout of $0.00001234 may be a prerequisite for a fall to the $0.000012 area.

SHIB/USD chart by TradingView

Bears are also more powerful than bulls on the daily time frame. If the bar closes near the support at $0.00001209, the decline may continue to the zone of $0.000011-$0.00001150 next week.

SHIB/USD chart by TradingView

From the midterm point of view, SHIB is neither bullish nor bearish as the price is located in the middle of the channel between the support at $0.00001086 and the resistance at $0.00001519. As neither side has accumulated enough strength for further sharp moves, ongoing sideways trading in the range of $0.000012-$0.000013 is the more likely scenario.

SHIB is trading at $0.00001240 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