SHIB Price Analysis for January 11

Almost all coins are rising today, according to CoinMarketCap.

SHIB/USD

The rate of SHIB has joined the list of rising coins, rocketing by 12%.

On the hourly chart, the price of SHIB might have set a local resistance level of $0.00001049.

If the daily candle closes near that mark, the accumulated energy might be enough for a blast to the $0.00001060-$0.00001070 zone tomorrow.

On the bigger time frame, bulls are also more powerful than bears. Traders should focus on the level of $0.00001014. Until the rate is above that mark, one can expect a further upward move.

From the midterm point of view, one should pay attention to the bar closure in terms of the previous candle peak. If it happens above $0.00001092, the rise may continue to the resistance of $0.00001136.

SHIB is trading at $0.00001035 at press time.

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