SHIB Price Analysis for October 1
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Bulls are not giving up so easily, according to CoinStats.
SHIB/USD
The price of SHIB has increased by 1.70% since yesterday.
On the hourly chart, the price of SHIB is trading near the local resistance of $0.00000749. If the daily bar closes near that mark, the upward move may lead to a test of the $0.00000755 area tomorrow.
On the bigger time frame, the situation is less positive. The rate keeps trading sideways as neither side has enough power for a sharp move. The falling volume confirms this statement. Overall, consolidation in the area of $0.00000730-$0.00000760 is the more likely scenario for the next few days.
From the midterm point of view, the price has not bounced off far from the support of $0.00000695, which means it is too early to think about a midterm reversal.
In this case, ongoing sideways trading in the area of $0.000007-$0.000008 is the more likely scenario until mid-October.
SHIB is trading at $0.00000742 at press time.
