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SHIB Price Prediction for April 20

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Sat, 20/04/2024 - 16:39
SHIB Price Prediction for April 20
Cover image via www.tradingview.com

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The market is trading neutrally as the prices of some coins are rising while others keep falling, according to CoinMarketCap.

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Top coins by CoinMarketCap

SHIB/USD

The price of SHIB has risen by 1.02% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of SHIB is looking bullish as it is testing the local resistance level of $0.00002328. If a breakout happens by the end of the day, the growth may continue to the $0.000024 area tomorrow.

Image by TradingView

On the bigger time frame, one should pay attention to the mirror level of $0.00002380. If the bar closes above it, there is a chance to see ongoing growth to the $0.000025-$0.000026 range. Such a scenario is relevant until the end of the month.

Image by TradingView

From the midterm point of view, neither bulls nor bears have accumulated enough energy for a continued move. The volume is low, confirming the absence of buyers' or sellers' strength. All in all, sideways trading in the area of $0.000020-$0.000025 is the more likely scenario for the upcoming weeks.

SHIB is trading at $0.00002324 at press time.

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