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SHIB Price Analysis for March 2

Thu, 03/02/2023 - 19:00
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Denys Serhiichuk
When can traders expect reversal of SHIB?
SHIB Price Analysis for March 2
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Bears have returned to the game, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap


SHIB has followed the decline of most of the other coins, going down by 3.52%.

SHIB/USD chart by TradingView

Despite sellers' pressure, the price of SHIB has made a false breakout of the recently formed support level at $0.00001183. If the bar closes above it, bulls have a chance to bounce back to the $0.000012 zone.

SHIB/USD chart by TradingView

On the bigger time frame, the price is approaching the support at $0.00001170. That level plays a key role for bulls in terms of a possible rise. If they lose it, the accumulated energy can be enough for a downward move to the $0.000011 zone.

SHIB/USD chart by TradingView

From the midterm point of view, SHIB is about to close below the previous candle low at $0.00001198. If that happens, the decline may continue to the test of the $0.000010 mark.

BTC and ETH Price Analysis for March 1

Such a scenario is relevant until the end of the month.

SHIB is trading at $0.00001190 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