Main navigation

SHIB Price Analysis for March 5

Sun, 03/05/2023 - 19:00
article image
Denys Serhiichuk
Has SHIB found local bottom yet?
SHIB Price Analysis for March 5
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 cryptocurrency market is trading sideways on Sunday, according to CoinMarketCap.

Top coins by CoinMarketCap


The rate of SHIB has declined by 1.10% over the last 24 hours.

SHIB/USD chart by TradingView

On the hourly chart, the price of SHIB has found a local support level at $0.00001103. At the moment, one should pay attention to the daily closure. If it happens near the resistance at $0.00001131, the growth may continue to the $0.00001150 mark shortly.

SHIB/USD chart by TradingView

On the bigger time frame, the price of SHIB has bounced off the support at $0.00001089. While the rate is above that mark, a slight correction is possible.

BTC, ETH and XRP Price Analysis for March 4

From another point of view, the accumulated energy is not enough for a reversal, which means that the more likely scenario is sideways trading in the range of $0.000011-$0.00001150.

SHIB/USD chart by TradingView

The situation is more bearish on the weekly chart as the bar is about to close near the support at $0.00001086. If that happens and the candle closes with no long wicks, the decline may continue to the $0.000010 zone by the end of the month.

SHIB is trading at $0.00001117 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