SHIB Price Analysis for March 31
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 trying to restore the lost initiative as most coins have returned to the green zone.
SHIB/USD
The rate of SHIB has risen by 1% over the last 24 hours.
On the hourly chart, the price of SHIB has broken the local resistance at $0.00001070. If buyers can hold the gained initiative until the end of the day, growth may continue to the $0.000011 zone.
On the bigger time frame, the price keeps trading sideways, accumulating power for a further move. If bulls want to get back in the game, they need to fix above the $0.000011 area.
A similar situation can be seen on the weekly chart, as the price is far away from the key levels. Until the price is below the $0.000011 mark, there are more chances to see an ongoing correction than a rise.
In this case, the rate is likely to locate in the range of $0.00001050-$0.00001080.
SHIB is trading at $0.00001073 at press time.