SHIB Surges 2% as Crypto Market Turns Green

Most of the coins have returned to the green zone, indicating a positive trend in the cryptocurrency market. SHIB, a popular cryptocurrency, has seen a significant increase in its value, rising by almost 2% over the last day. This upward trend suggests a bullish sentiment among investors.

On the hourly chart, the price of SHIB is under pressure from sellers, as it is closer to the support level than to the resistance level. This indicates that there may be some resistance to further price increases in the short term. If the current trend continues, there could be a level breakout followed by a dump to the $0.00001260 zone. This would represent a significant drop in value for SHIB, and investors should be prepared for potential volatility.

On a larger time frame, neither bulls nor bears are dominating the market. If the daily candle closes around the current prices, ongoing sideways trading in the area of $0.00001250-$0.000013 is the most likely scenario. This would indicate a period of consolidation for SHIB, as investors wait for a clear direction in the market. A similar situation can be seen on the weekly chart, where the volume remains low, which means there are low chances of seeing sharp moves soon. This suggests that the market is currently in a state of equilibrium, with neither bulls nor bears having a clear advantage.

At the time of writing, SHIB is trading at $0.00001274. This represents a slight increase from the previous day's closing price, and investors will be watching closely to see if this upward trend continues. Overall, the outlook for SHIB remains positive, with analysts predicting that the cryptocurrency could see further gains in the coming days and weeks. However, investors should be prepared for potential volatility, as the market remains uncertain and subject to sudden changes.