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SHIB Price Analysis for November 29

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Wed, 29/11/2023 - 18:00
SHIB Price Analysis for November 29
Cover image via www.tradingview.com

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Bulls are trying to seize the initiative again, according to CoinStats.

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SHIB chart by CoinStats

SHIB/USD

The rate of SHIB has followed the rise of other cryptocurrencies, going up by 1.27%.

Image by TradingView

On the hourly chart, the price of SHIB is in the middle of a narrow channel, between the support of $0.00000824 and the resistance of $0.00000839.

Related
DOGE Price Analysis for November 28

There are low chances to see any shape moves today, as most of the daily ATR has been passed.

Image by TradingView

A similar picture can be seen on the daily chart. Today's move of SHIB has not affected its technical situation. In this case, ongoing sideways trading in the area of $0.0000080-$0.00000850 is the more likely scenario until the end of the week.

Image by TradingView

From the midterm point of view, it is too early to make any predictions as a few days remain until the bar's closure. However, if the candle closes around current prices, traders are likely to see consolidation in the range of $0.00000750-$0.0000080 until mid-December.

SHIB is trading at $0.00000829 at press time.

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