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SHIB Price Prediction for December 17
According to a recent analysis by Denys Serhiichuk, a renowned expert in cryptocurrency markets and technical market analysis, the rate of Shiba Inu (SHIB) is poised to break through a local resistance level of $0.00002736 on the hourly chart.
If this breakout occurs as expected, SHIB’s price may surge towards the $0.000028 area, which could be an attractive entry point for investors seeking to capitalize on potential short-term gains.
However, it is crucial to note that the daily time frame suggests a need for consolidation in the range of $0.00002650-$0.00002780 over the next few days before any significant upward momentum can be expected.
From a midterm perspective, SHIB’s price is still far from critical levels and lacks clear direction at this point. Neither buyers nor sellers have gained an upper hand, implying that major moves are unlikely to occur in the short term.
At the time of writing, SHIB was trading at $0.00002728.
It remains to be seen how these predictions will play out as the cryptocurrency market continues to evolve and respond to shifting supply and demand dynamics.
In conclusion, while some short-term potential exists for SHIB’s price to test higher levels, a more sustained trend is unlikely to emerge before the end of the month.
Source: u.today
