SHIB Price Analysis for December 20

Bulls are trying to control the situation on the market, however, some coins have returned to the red zone, according to CoinStats.

SHIB/USD

The price of SHIB has fallen by 1% since yesterday.

On the hourly chart, the rate of SHIB is neutral as it is in the middle of the local channel. As neither bulls nor bears are dominating, traders are unlikely to see sharp moves by tomorrow.

On the bigger time frame, it is too early to think about a fast bounce back as SHIB has not accumulated enough energy so far.

If the daily bar closes around the current prices, sideways trading in the range of $0.00000720-$0.00000760 is the more likely scenario.

From the midterm point of view, there are no reversal signals so far. If a breakout of the support of $0.00000678 happens, the decline may continue to the $0.0000050-$0.0000060 area.

SHIB is trading at $0.00000743 at press time.