Crypto

Is there an expected solution for SHIB? | Cryptocurrency

Most of the currencies remain in the green zone with the exception of Bitcoin (BTC), whose rate has fallen 0.17% in the last 24 hours.

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SHIB / USD

SHIB continues to set new highs, exploding 17.38% since yesterday.

Graphic

SHIB / USD chart by TradingView

On the hourly chart, SHIB made a false breakout of the 4,800 satoshi mark supported by the increase in trade volume.

Regarding the nearest price action, the decline could continue to the liquidity zone at 4000 satoshis, where traders could again take the lead.

Graphic

SHIB / USD chart by TradingView

On the 4H chart, the decline could continue as buyers do not have the power to sustain the rise. In this case, the correction may last until SHIB retests support at 3,528 satoshis. Such a scenario is valid until the end of the current week.

Graphic

SHIB / USD chart by TradingView

The SHIB has risen for five days, confirming the current uptrend. However, SHIB is overbought to some extent, which means that traders may face a short-term correction to get more energy for continued growth.

The slide could take SHIB to the nearest support at 3,200 satoshis shortly.

SHIB is trading at 4,625 satoshis at launch.

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