SHIB Prediction for August 11
The outlook for SHIB on August 11 is mainly bullish, with a slight increase of 0.56% over the past day, according to CoinMarketCap.
On the hourly chart, the price of SHIB is returning to the local support level of $0.00001406. If buyers fail to take control by the end of the day, there could be a breakout followed by a further drop to the $0.00001390 zone.
Looking at the bigger time frame, the bar is set to close far from today’s peak. If this trend continues, bears may regain control, potentially leading to a test of the $0.000014 area.
From a midterm perspective, SHIB experienced a false breakout of the support level at $0.00001266.
If the weekly candle closes around current prices, traders should expect sideways trading in the range of $0.000013-$0.000015 over the next few days.
As of now, SHIB is trading at $0.00001415.