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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The new month has begun with a correction on the cryptocurrency market, according to CoinStats.
SHIB has followed the drop of other coins, going down by 0.16%.
On the hourly chart, the price of SHIB is rising after the breakout of the resistance of $0.00001333. Until the rate is above the $0.00001350, buyers are controlling the situation on the market.
In this reagard, the growth may continue to the $0.000015 area soon.
On the bigger time frame, traders should pay attentiont to yesterday’s peak of $0.00001473. If the daily bar closes near it, the midterm rise may lead to the $0.000015-$0.000016 zone next week.
From the midterm point of view, the price of SHIB is its way to testing the $0.00001591 level. However, the aproach to this mark plays a huge role. If it happens fast and a false breakout happens, bears might seize the initiative, which could lead to a correction.
SHIB is trading at $0.00001430 at press time.