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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.
Most coins are rising at the end of the week, according to CoinStats.
The price of SHIB has increased by almost 1% since yesterday.
On the hourly time frame, the rate of SHIB is growing after a false breakout of the local support at $0.00000959.
If the daily candle closes around the current prices and with no long wicks, the growth may lead to a test of the vital zone of $0.000010.
On the bigger chart, neither bulls nor bears are dominating. Only if the bar returns to $0.000010 is there a possibility of an ongoing bullish trend. However, until it happens, traders may witness a local correction.
A similar situation is on the weekly time frame. At the moment, the rate is in the middle of the wide channel between the support of $0.00000827 and the resistance of $0.00001136. As neither side has seized the initiative yet, ongoing consolidation around the $0.000010 zone is the more likely scenario until the end of the month.
SHIB is trading at $0.00000978 at press time.