SHIB Price Analysis for December 15

The correction has continued on the cryptocurrency market, according to CoinStats.

SHIB/USD

The price of SHIB has fallen by 1.4% since yesterday.

On the hourly chart, the rate of SHIB is trading near the local support level of $0.00000973.

If buyers cannot seize the initiative by the end of the day, there is a high chance to see a breakout tomorrow.

A bearish picture can also be seen on the longer time frame. If the bar closes with no long wick, the fall is likely to continue to the $0.00000950 area shortly.

From the midterm point of view, the rate of SHIB needs time to get more power for a further move. In this case, consolidation in the area of $0.000009-$0.00001 is the more likely scenario until the end of the month.

SHIB is trading at $0.00000971 at press time.

Source