SHIB Coin Price Analysis: Sideways Trading or a Rally to $0.000015 Zone?

• SHIB’s price has dipped by 0.50% in the last 24 hours.
• Despite the short-term decline, SHIB’s hourly chart suggests bullish momentum, targeting $0.00001050.
• On a larger time frame, SHIB lacks strong upward momentum, hinting at potential sideways trading.

Shiba Inu (SHIB) has experienced a slight setback with a 0.50% decline over the past 24 hours. While this may raise eyebrows, a deeper analysis of SHIB’s performance unveils intriguing insights.

On the shorter time frame, SHIB appears to maintain its bullish momentum, as indicated by the hourly chart. If the daily bar concludes near or above the $0.00001039 level, there’s optimism for an upward push toward the $0.0000105 region in the coming day.

Zooming out to a larger time frame paints a different picture. SHIB has yet to accumulate the necessary strength for sustained growth. In this scenario, the likelihood of sideways trading within the range of $0.000010 to $0.0000105 prevails until week’s end.

However, from a midterm perspective, all eyes are on the weekly bar closure. Should it occur around the $0.000011 mark, traders could anticipate a resistance breakout, potentially propelling SHIB to the $0.000012 to $0.000015 zone.

As the crypto community closely monitors SHIB’s fluctuations, the coin’s potential remains a topic of considerable interest. With the right conditions and sentiment, SHIB may find itself on an upward trajectory in the foreseeable future.

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