SHIB Price Analysis for January 11

SHIB Price Analysis for January 11

Thu, 11/01/2024 – 17:00

SHIB Price Analysis for January 11
Cover image via www.tradingview.com

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Almost all coins are rising today, according to CoinMarketCap.

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Top coins by CoinMarketCap

SHIB/USD

The rate of SHIB has joined the list of rising coins, rocketing by 12%.

Image by TradingView

On the hourly chart, the price of SHIB might have set a local resistance level of $0.00001049. 

If the daily candle closes near that mark, the accumulated energy might be enough for a blast to the $0.00001060-$0.00001070 zone tomorrow.

Image by TradingView

On the bigger time frame, bulls are also more powerful than bears. Traders should focus on the level of $0.00001014. Until the rate is above that mark, one can expect a further upward move.

Image by TradingView

From the midterm point of view, one should pay attention to the bar closure in terms of the previous candle peak. If it happens above $0.00001092, the rise may continue to the resistance of $0.00001136.

SHIB is trading at $0.00001035 at press time.

Published at Fri, 12 Jan 2024 01:02:00 +0100

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