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SHIB Price Prediction for May 4

Sat, 4/05/2024 – 19:30

Cover image via u.today

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

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SHIB chart by CoinStats

SHIB/USD

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

Image by TradingView

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.

Image by TradingView

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.

Image by TradingView

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.

SOURCE

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