SHIB Price Analysis for March 18

Dis­claimer: The opin­ion expressed here is not invest­ment advice – it is pro­vid­ed for infor­ma­tion­al pur­pos­es only. It does not nec­es­sar­i­ly reflect the opin­ion of U.Today. Every invest­ment and all trad­ing involves risk, so you should always per­form your own research pri­or to mak­ing deci­sions. We do not rec­om­mend invest­ing mon­ey you can­not afford to lose.

Bulls are not giv­ing up even on the week­end, accord­ing to Coin­Mar­ket­Cap’s rank­ing.

SHIB/USD

The rate of SHIB has risen by 3.30% over the past 24 hours.

On the hourly chart, the price is stuck in the nar­row range between the sup­port at $0.00001112 and the resis­tance at $0.00001134. Sharp moves are unlike­ly by the end of the day as most of the ATR has been passed.

This state­ment is also con­firmed by the declin­ing volume.

On the big­ger time frame, the price is slow­ly approach­ing the resis­tance lev­el at $0.00001169. At the moment, one should pay atten­tion to the dai­ly clo­sure. If it hap­pens near the $0.00001150 mark and with no long wicks, there is a chance of a break­out fol­lowed by a price blast to the $0.000012 zone.

The sit­u­a­tion is less clear on the week­ly chart, as the price is still far from the key lev­els. It means that nei­ther buy­ers nor sell­ers are ready to seize the ini­tia­tive in the midterm point of view. Respec­tive­ly, con­sol­i­da­tion in the $0.000011 area is the more like­ly sce­nario until the end of the month.

SHIB is trad­ing at $0.00001121 at press time.