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SHIB Price Prediction for May 17

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Fri, 17/05/2024 - 16:34
SHIB Price Prediction for May 17
Cover image via U.Today

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Bulls are not giving up at the end of the week, according to CoinStats.

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SHIB chart by CoinStats

SHIB/USD

The rate of SHIB has risen by 2.34% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of SHIB is breaking the local resistance level of $0.00002510. If buyers manage to hold the gained initiative, the upward move may continue to the $0.000026 area.

Image by TradingView

On the daily time frame, buyers have seized the initiative as bears have failed to keep the fall going after yesterday's bearish candle.

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If the bar closes around current prices, traders may expect a test of the $0.000026 level soon.

Image by TradingView

From the midterm point of view, one should attention to to the weekly bar closure. If it happens above $0.00002575, growth may continue to the $0.000027-$0.000028 zone.

SHIB is trading at $0.00002515 at press time.

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