Main navigation

SHIB Price Analysis for May 7

Sun, 05/07/2023 - 18:00
article image
Denys Serhiichuk
Has SHIB found support zone yet?
SHIB Price Analysis for May 7
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Bears are more powerful than bulls again, according to CoinMarketCap's ranking.

Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

SHIB/USD

The rate of SHIB has declined by 3.59% over the last 24 hours.

SHIB/USD chart by Trading View

Image by TradingView

On the hourly chart, the price of SHIB has bounced off the support level at $0.00000937. If the growth continues to the resistance, the breakout may lead to a test of the $0.00000960 zone shortly.

SHIB/USD chart by Trading View

Image by TradingView

On the daily time frame, the rate of SHIB has fixed below the important level at $0.00000965. While the price is below that mark, bears are more powerful than bulls.

Related
SHIB Price Analysis for May 5

In this case, there is a high chance to see a further drop to the next zone of $0.000009 shortly.

SHIB/USD chart by Trading View

Image by TradingView

A similar picture is on the weekly chart as the rate is about to close near the support at $0.00000935. If that occurs, traders may see a blast to the area of $0.000008 by the end of the month.

SHIB is trading at $0.00000942 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 denys.serhiichuk@u.today.