SHIB Price Prediction for May 11

The market keeps falling after a slight bounce back, according to CoinStats.

SHIB/USD

The price of SHIB has dropped by 3.66% since yesterday.

On the hourly time frame, the rate of SHIB is more bearish than bullish as it is on the way back to the support level of $0.00002240. If the daily bar closes near that mark, the accumulated energy might be enough for a breakout followed by a move to $0.0000222.

On the bigger time frame, one should focus on the bar closure in terms of the support level of $0.00002230.

If it happens near it, there is a high chance of a drop to the $0.00002150-$0.000022 area by the end of the week.

A similar situation is on the weekly time frame. If the candle closes near the current prices, the breakout might be a prerequisite for a decline to the $0.000018 zone.

SHIB is trading at $0.00002259 at press time.

Source