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SHIB Price Analysis for November 24

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Fri, 24/11/2023 - 18:00
SHIB Price Analysis for November 24
Cover image via www.tradingview.com

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Most of the coins keep slightly rising, according to CoinStats.

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SHIB chart by CoinStats

SHIB/USD

The price of SHIB has risen by almost 2% over the last day.

Image by TradingView

On the hourly chart, the rate of SHIB is looking bullish as the rate is trying to come back to the recently formed local resistance level of $0.00000826. 

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If it manages to achieve it and fix above, the rise may lead to a test of the $0.00000830-$0.00000840 zone soon.

Image by TradingView

On the bigger time frame, it is too early to make any predictions as the price is far from the resistance of $0.00000851. In this case, sideways trading in the area of $0.0000080-$0.00000830 is the more likely scenario for the next few days.

Image by TradingView

On the weekly chart, one should focus on the bar's closure in terms of the last candle low. If it happens far from the last candle low, there is a chance to see a bounce back to $0.00000850 shortly.

SHIB is trading at $0.00000825 at press time.

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