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SHIB Price Prediction for April 12

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Fri, 12/04/2024 - 17:59
SHIB Price Prediction for April 12
Cover image via www.tradingview.com

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The cryptocurrency market is still facing a correction, according to CoinStats.

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SHIB chart by CoinStats

SHIB/USD

The price of SHIB has declined by 1.89% since yesterday.

Image by TradingView

Despite today's fall, the price of SHIB keeps looking bearish as it is returning to the local support level of $0.00002662. 

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If the bar closes near it, the accumulated energy might be enough for a breakout to the $0.000026 zone.

Image by TradingView

On the bigger time frame, the price of SHIB has once again bounced off the $0.000028 zone. At the moment, one should pay attention to the nearest interim area of $0.000026. If buyers lose it, the drop may lead to the test of $0.000024-$0.000025 soon.

Image by TradingView

On the weekly chart, there are also no reversal signals yet. If the candle closes below the previous bar low, there is a high chance to see a test of the support of $0.00002380 until the end of the month.

SHIB is trading at $0.00002694 at press time.

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