SHIB Price Analysis for February 13

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Can traders expect SHIB to test the $0.0000070 area this week?

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By the end of the week, some coins are coming back to the green zone, according to CoinMarketCap.

Top coins by CoinMarketCap

SHIB/USD

The rate of SHIB has risen by 1.6% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of SHIB is going up after a breakout of the local resistance at $0.00000612. If bulls can hold the gained initiative, the upward move is likely to continue to the $0.00000650 range.

Image by TradingView

On the longer time frame, one should focus on the bar’s closure in terms of the $0.00000642 level. 

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If the candle closes above it and with a short wick, the accumulated energy might be enough for ongoing growth to the $0.0000070 zone.

Image by TradingView

From the midterm point of view, the picture is less clear. The rate of SHIB is far from key levels, which means traders might not witness sharp moves soon. All in all, sideways trading in the range of $0.0000060-$0.0000070 is the most likely scenario.

SHIB is trading at $0.00000629 at press time.

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Source: https://u.today/shib-price-analysis-for-february-13