SHIB Price Prediction for April 14
The cryptocurrency market has been experiencing a bearish trend, and SHIB is no exception. Over the past 24 hours, the price of SHIB has dropped by nearly 12%.
Analyzing the hourly chart, SHIB is currently trading within a local channel, with a support level at $0.00002056 and a resistance level at $0.00002299. It is likely that the price will continue to trade sideways around $0.000022 until the end of the day, considering that most of the daily average true range (ATR) has already been surpassed.
On the daily time frame, SHIB has recently bounced off the support level of $0.000019. However, it is important to observe the candle closure. If it closes far from the support level, there is a possibility of a local upward move towards the $0.000024 zone.
From a medium-term perspective, the outlook is less optimistic. If the weekly bar closes around the current prices, there may be a further correction leading to a drop in SHIB’s price to the $0.000016-$0.000018 range.
At the time of writing, SHIB is trading at $0.00002174.