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SHIB Price Analysis for March 18


u.today 18 March 2023 18:35, UTC
Reading time: ~2 m

Bulls are not giving up even on the weekend, according to CoinMarketCap's ranking.

Top coins by CoinMarketCap


The rate of SHIB has risen by 3.30% over the past 24 hours.

SHIB/USD chart by TradingView

On the hourly chart, the price is stuck in the narrow range between the support at $0.00001112 and the resistance at $0.00001134. Sharp moves are unlikely by the end of the day as most of the ATR has been passed.

This statement is also confirmed by the declining volume.

SHIB/USD chart by TradingView

On the bigger time frame, the price is slowly approaching the resistance level at $0.00001169. At the moment, one should pay attention to the daily closure. If it happens near the $0.00001150 mark and with no long wicks, there is a chance of a breakout followed by a price blast to the $0.000012 zone.

SHIB/USD chart by TradingView

The situation is less clear on the weekly chart, as the price is still far from the key levels. It means that neither buyers nor sellers are ready to seize the initiative in the midterm point of view. Respectively, consolidation in the $0.000011 area is the more likely scenario until the end of the month.

SHIB is trading at $0.00001121 at press time.

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