SHIB Price Prediction for February 21

Wed, 21/02/2024 – 15:50

Cover image via www.tradingview.com

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Most of the coins are in the red zone today, according to CoinStats.

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SHIB chart by CoinStats

SHIB/USD

The price of SHIB has fallen by 4.88% over the last day.

Image by TradingView

On the hourly chart, the rate of SHIB is trading near the local support level of $0.00000937. If buyers cannot seize the initiative by the end of the day, there is a chance to see a breakout, followed by a blast to the $0.0000090 area.

Image by TradingView

On the bigger chart, the correction continues as there are no reversal signals yet. If the current bar closes below $0.0000940, the decline may lead to the test of the support of $0.00000923 until the end of the week.

Image by TradingView

A less clear picture can be seen on the weekly time frame. The volume keeps falling, which means that neither buyers nor sellers are dominating now. 

In this case, ongoing sideways trading in the area of $0.0000090-$0.00000950 is the more likely scenario.

SHIB is trading at $0.00000945 at press time.

SOURCE

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