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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 of the coins are in the red zone today, according to CoinStats.
The price of SHIB has fallen by 4.88% over the last day.
On the hourly chart, the rate of SHIB is trading near the local support level of $0.00000937. If buyers cannot seize the initiative by the end of the day, there is a chance to see a breakout, followed by a blast to the $0.0000090 area.
On the bigger chart, the correction continues as there are no reversal signals yet. If the current bar closes below $0.0000940, the decline may lead to the test of the support of $0.00000923 until the end of the week.
A less clear picture can be seen on the weekly time frame. The volume keeps falling, which means that neither buyers nor sellers are dominating now.
In this case, ongoing sideways trading in the area of $0.0000090-$0.00000950 is the more likely scenario.
SHIB is trading at $0.00000945 at press time.