SHIB Price Analysis for December 5

Sellers have been more powerful than buyers at the beginning of the day; however, bulls are trying to get back in the game.

SHIB/USD

The price of SHIB has increased by 5% since yesterday.

On the hourly time frame, the rate of SHIB keeps looking bullish as the price is coming back to the local resistance level of $0.00000940.

If the bar closes near it, there is a high chance to see further growth to $0.00000965.

On the daily time frame, the interim level of $0.00000950 plays a key role in terms of the ongoing rise. If buyers can hold the initiative, the accumulated energy might be enough for a blast to the zone of $0.00001 this week.

From the midterm point of view, traders should focus on the candle closure in terms of the previous bar peak. If it happens around current prices, one may expect ongoing growth.

SHIB is trading at $0.00000936 at press time.

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