Crypto Express
06/12 11:16
SHIB Price Analysis:
At the time of writing, SHIB price is at $0.00001275, with a 1.47% intraday drop and a weekly dip of just 0.16%. The price has ranged between a 24-hour low of $0.00001274 and a high of $0.0000136, with overall market sentiment slightly bearish as reflected in the 4.62% 24-hour drop in price.
Looking at the daily chart, the 9-day SMA has turned flat near $0.00001274, suggesting that SHIB is currently testing a crucial support zone. A sustained close below this level could take the price down to its psychological support at $0.00001200.
Successively, the chart also hints at a potential double-bottom formation near the $0.000012 region. If this pattern holds, and SHIB maintains support above $0.00001270, a short-term reversal could be in play. A bullish breakout above $0.00001360 resistance may validate this and open the road to $0.00001450.
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