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SHIB Price Prediction for November 2

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Sat, 2/11/2024 - 16:15
SHIB Price Prediction for November 2
Cover image via U.Today

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The cryptocurrency market is mainly falling today, according to CoinStats.

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SHIB chart by CoinStats

SHIB/USD

The rate of SHIB has fallen by 3.37% since yesterday.

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Image by TradingView

On the hourly chart, the price of SHIB is about to break the local support of $0.00001732. If that happens, one can expect a test of the $0.000017 area by tomorrow.

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Image by TradingView

On the bigger time frame, there are no reversal signals yet. If buyers cannot seize the initiative by the end of the day, there is a possibility of an ongoing decline to the $0.00001650-$0.000017 range next week.

Article image
Image by TradingView

From the midterm point of view, the weekly candle is about to close far from its peak. 

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If nothing changes, bears may be back in the game, which may lead to a drop to the $0.000016 mark.

SHIB is trading at $0.00001733 at press time.

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