SHIB Price Prediction for August 27

The rates of most of the coins  have come back to the green zone, according to CoinStats.

SHIB chart by CoinStats

SHIB/USD

The price of SHIB has gone up by 2.8% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of SHIB is rising after a false breakout of the local support of $0.00001242. If bulls can hold the initiative and the daliy bar closes far from that mark, there is a possibility of seeing a test of the resistance by tomorrow.

Image by TradingView

On the longer time frame, the price of SHIB is far from key levels. The volume has dropped, which means neither bulls nor bears are ready to seize the initiative. 

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In this case, traders are unlikely to see sharp moves soon. All in all, sideways trading in the range of $0.000012-$0.000013 is the most likely scenario.

Image by TradingView

From the midterm point of view, the situation is similar. However, one should focus on the nearest zone of $0.000012. If its breakout happens, the accumulated energy might be enough for a test of the $0.000010-$0.000011 area.

SHIB is trading at $0.00001246 at press time.

Source: https://u.today/shib-price-prediction-for-august-27