SHIB Price Analysis for October 30

The market might have entered a correction zone as the rates of most of the coins are falling.

SHIB/USD

The rate of SHIB has risen by 0.34% over the past 24 hours.

On the hourly chart, SHIB is returning to the local support level at $0.00001225. If buyers cannot seize the initiative, a further drop may lead to a test of the $0.000012 zone by the end of the day.

On the daily time frame, the situation is also more bearish than bullish. The price has reached the interim support level at $0.00001222.

If the bar closes below it, the impulse might be huge, followed by a sharp drop to the $0.00001150 zone.

On the bigger chart, SHIB remains bullish as there is a large buying volume. In this case, the more likely scenario is a slight rise to the $0.000013 zone. However, buyers might need more time to accumulate power to make it happen.

SHIB is trading at $0.00001226 at press time.

Source