SHIB Price Analysis for November 29

Bulls are trying to seize the initiative again, according to CoinStats.

SHIB/USD

The rate of SHIB has followed the rise of other cryptocurrencies, going up by 1.27%.

On the hourly chart, the price of SHIB is in the middle of a narrow channel, between the support of $0.00000824 and the resistance of $0.00000839.

There are low chances to see any shape moves today, as most of the daily ATR has been passed.

A similar picture can be seen on the daily chart. Today’s move of SHIB has not affected its technical situation. In this case, ongoing sideways trading in the area of $0.0000080-$0.00000850 is the more likely scenario until the end of the week.

From the midterm point of view, it is too early to make any predictions as a few days remain until the bar’s closure. However, if the candle closes around current prices, traders are likely to see consolidation in the range of $0.00000750-$0.0000080 until mid-December.

SHIB is trading at $0.00000829 at press time.

Source