SHIB Price Analysis for November 13
The crypto market is undergoing a correction, with SHIB/USD declining by 2% over the past day. SHIB is trading at $0.00000976, with recent resistance at $0.00000985. On the hourly chart, falling prices suggest a potential test of support soon. On longer timeframes, low trading volume indicates a sideways trading trend between $0.0000095 and $0.000010 is likely. Midterm scenarios suggest a possible drop to $0.00000832 support if prices fail to stay above $0.000010.
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Market Correction Overview
The crypto market continues to face a correction, according to CoinStats. The trading pair SHIB/USD saw a 2% decline in its rate over the past day.
Hourly Trends for SHIB
On the hourly chart, the price of SHIB is showing a downward trend, following the establishment of a local resistance at $0.00000985. If buyers fail to take the initiative, a test of the support level is expected by tomorrow.
Long-Term Analysis
On the longer time frame, the rate of SHIB remains distant from both support and resistance levels. The trading volume is low, indicating that neither buyers nor sellers have accumulated sufficient momentum for a sharp move. As a result, sideways trading within the range of $0.000095-$0.000010 is anticipated as the most likely scenario.
Midterm Expectations
From a midterm perspective, the situation remains similar. However, failure to fix the price above the interim zone of $0.000010 could lead to traders anticipating a test of the $0.00000832 support in the near future.
Current SHIB Price
SHIB is currently trading at $0.00000976 at the time of writing.