SHIB Price Prediction for November 5

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Bears are not going to give up so easily, according to CoinStats.

SHIB chart by CoinStats

SHIB/USD

The rate of SHIB has gone up by 3.69% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of SHIB is breaking the local resistance of $0.00001788. If the daily bar closes above it, growth is likely to lead to a test of the $0.00001820-$0.00001840 range.

Image by TradingView

On the bigger time frame, one should focus on the daily candle's closure. If it happens near its high, the upward move may continue to the $0.000019-$0.0000020 zone soon.

Image by TradingView

A less bullish picture can be seen on the weekly chart. The price of SHIB is in the middle of the wide channel. 

If the situation does not change by the end of the week, ongoing sideways trading in the area of $0.000018-$0.000020 is the more likely scenario.

SHIB is trading at $0.00001832 at press time.