Anticipated SHIB Price Movement for July
In the latest price prediction by Denys Serhiichuk on U.Today, Shiba Inu (SHIB) is showing signs of price stability but not a clear downward continuation.
At press time, SHIB is trading at $0.00001122, a 1.88% decrease over the last 24 hours. The hourly chart indicates a false breakout of the local support at $0.00001121, suggesting a potential downward trend. However, if the daily candle closes near the support level, a breakout could occur, leading to a test of the $0.00001140 range.
On a larger time frame, neither bulls nor bears appear to dominate, indicating an accumulation phase between $0.00001150 and $0.00001180. The midterm outlook also suggests sideways trading rather than a sharp move, as the price remains within the previous week's candle.
Earlier predictions in late June indicated some bearish tendencies, with SHIB breaking local supports like $0.00001157 and a possible further correction down to around $0.00001140 or even $0.000011. However, the latest analysis points more towards **sideways accumulation and a potential test of support levels** rather than a persistent downward move.
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Moreover, the top 10 million coins, as per CoinStats, are in the red zone today, reflecting a broader market trend. No reversal signals have been observed so far on the longer time frame, indicating that the market may continue to move sideways for the time being.
In conclusion, while there was bearish momentum earlier in the month, the latest analysis by Serhiichuk points more towards **sideways accumulation and a potential test of support levels** rather than a persistent downward move at this moment. The situation does not suggest a clear continuation of the downward trend but rather a wait-and-see scenario with potential for either a breakout or further slight declines depending on support tests.
Cryptocurrency investors may want to consider the latest price prediction for Shiba Inu (SHIB) by Denys Serhiichuk on U.Today, which suggests a potential test of support levels due to sideways accumulation, rather than a persistent downward move. In light of the broader market trend, it's crucial to conduct your own research before making any investment decisions in the crypto market, as market conditions can change quickly.
