SHIB Price Prediction for May 4

The majority of cryptocurrencies are rising today, according to CoinStats.

SHIB/USD

The rate of SHIB has increased by 6.61% over the last 24 hours.

Despite today’s rise, the price of SHIB is still looking bullish on the hourly chart. The rate is trading near the local resistance of $0.00002582.

If the situation does not change by the end of the day, one can expect a breakout followed by a move to the $0.000026-$0.00002650 zone.

On the daily chart, the price of the meme coin has broken the resistance of $0.00002467. If the bar closes with no long wick, the upward move may continue to $0.000027 next week.

On the weekly time frame, the rate of SHIB has once again bounced off the support level of $0.00002136. But neither side is dominating at the moment. All in all, an ongoing consolidation in the zone of $0.000024-$0.000028 is the more likely scenario.

SHIB is trading at $0.00002564 at press time.

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