Main navigation

SHIB Price Analysis for March 23

Thu, 03/23/2023 - 19:00
article image
Denys Serhiichuk
Can SHIB get back to midterm growth soon?
SHIB Price Analysis for March 23
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

The correction seems to have finished on the cryptocurrency market, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap


SHIB has not followed the growth of other coins, going down by 0.66%.

SHIB/USD chart by TradingView

On the hourly time frame, the rate of SHIB is about to fix above the local resistance at $0.00001083. Thus, the volume is rising, which confirms bulls' pressure. If the candle closes around that mark, growth may continue to $0.000011 tomorrow.

SHIB/USD chart by TradingView

On the bigger chart, the rate of SHIB keeps trading sideways, accumulating power for a further move.

Ethereum (ETH) Price Analysis for March 22

At the moment, none of the sides has accumulated enough power, which means that ongoing consolidation in the range of $0.00001050-$0.0000011 is the more likely scenario.

SHIB/USD chart by TradingView

A similar situation can be seen on the weekly time frame. Traders may start thinking about a midterm rise only if the rate fixes above the $0.00001150 zone. Until it happens, further accumulation is the more likely scenario until mid-April.

SHIB is trading at $0.00001090 at press time.

article image
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