SHIB Price Analysis for November 1

Sellers are getting back in the game, according to CoinStats.

SHIB/USD

The price of SHIB has fallen by 1.78% since yesterday.

On the hourly chart, the rate of SHIB is bearish as the rate has come back to the local support level of $0.00000757. If a bounce back does not happen by the end of the day, there is a possibility of seeing a breakout and further decline to the $0.0000075 zone.

On the daily time frame, the price keeps falling today. If the bar closes near yesterday’s low, traders are likely to see a further correction to the $0.00000720-$0.00000740 area by the end of the week.

From the midterm point of view, it is too early to make any predictions, as too many days are left until the bar’s closure.

However, if the candle closes below the $0.000008 mark, bears might locally seize the initiative.

SHIB is trading at $0.00000762 at press time.

Source