SHIB Price Prediction for August 5

Bulls continue controlling the situation on the market, according to CoinStats.

SHIB/USD

The rate of SHIB has increased by 0.66% over the last 24 hours.

On the hourly chart, the price of SHIB is in the middle of the local channel, between the support of $0.00001212 and the resistance of $0.00001257. As most of the ATR has been passed, there are low chances of seeing sharp moves by tomorrow.

On the longer time frame, traders should focus on the resistance level of $0.00001257.

If it breaks out, the accumulated energy might be enough for a test of the $0.000013 zone soon.

From the midterm point of view, the price of SHIB is within the previous weekly candle. At the moment, one should focus on the interim zone of $0.00001150. If the bar closes below it, the decline is likely to continue to the $0.000010 area.

SHIB is trading at $0.00001235 at press time.

Source