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SHIB Price Analysis for September 29

Thu, 09/29/2022 - 15:07
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Denys Serhiichuk
Has SHIB reached local bottom yet?
SHIB Price Analysis for September 29
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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.

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Even though the day has started with continued trading, bears are trying to seize the initiative as some coins have come back to the red zone.

Top coins by CoinMarketCap


The rate of SHIB is almost unchanged since yesterday as it has risen by only 0.11%.

SHIB/USD chart by TradingView

On the hourly time frame, SHIB is about to break the local support level at $0.00001101. If bears can keep the pressure on and fix the price below that mark, the decline may lead to the test of the nearest zone of interest around $0.00001090.

SHIB/USD chart by TradingView

The opposite situation can be seen on the daily chart as sideways trading remains the more likely scenario. However, if the price decrease continues to the $0.00001060 mark, traders can expect the test of the support level at $0.00001029 soon.

SHIB/USD chart by TradingView

On the weekly chart, the price of SHIB is located closer to the support level than to the resistance, which confirms ongoing seller pressure. If buyers cannot change the situation shortly, there is a possibility of seeing the test of the $0.000010 mark in October.

SHIB is trading at $0.000011 at press time.

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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