SHIB Price Analysis for May 2

The prices of most of the coins have come back to the green zone by the end of the day.

Top coins by CoinMarketCap

SHIB/USD

The price of SHIB has risen by 0.46% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of SHIB has broken the local resistance level at $0.00000995. If bulls can keep the price above that mark, there is a high chance to see further growth to the $0.00001010 area.

Image by TradingView

On the daily chart, today’s slight bounce back has not affected the overall technical position of SHIB. Currently, traders should pay attention to the important area of $0.000010.

If the closure below it happens, the fall may lead to the test of the support level at $0.00000965.

Image by TradingView

A similar picture can be observed on the weekly timeframe. At the moment, there are reversal signals, which means that the decline to the $0.000009 level is likely to happen until the end of the month.

SHIB is trading at $0.00000998 at press time.

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