SHIB Price Analysis for November 9

The market is neither bullish nor bearish on the last day of the week, according to CoinStats.

SHIB/USD

The price of SHIB has gone up by almost 2% over the last day.

On the hourly chart, the rate of SHIB is trying to fix above the local resistance of $0.00000998. If it happens and the daily bar closes far from that mark, there is a chance to see a test of the $0.00001010-$0.00001020 range soon.

On the bigger time frame, the situation is less bullish. One should pay attention to the candle closure in terms of the resistance of $0.00001069. While the price is below that mark, bears remain more powerful than bulls.

From the midterm point of view, the rate of SHIB has bounced off the support of $0.00000832.

As neither bulls nor bears have seized the initiative so far, sideways trading around the current prices is the more likely scenario.

SHIB is trading at $0.0000099 at press time.

Source