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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.
Sellers have turned out to be more powerful than buyers, according to CoinStats.
The rate of SHIB has followed the drop of other coins, going down by 2.59%.
On the hourly chart, the price of SHIB is trading below the support level of $0.00002653. At the moment, there are no reversal signals yet, which means the drop may lead to the test of the $0.000025 zone soon.
On the daily time frame, the rate of SHIB is falling after a false breakout of the $0.000028 area.
If the bar closes below yesterday’s low, traders may expect a decline to the support of $0.00002380 within the next few days.
From the midterm point of view, the price has bounced off the support of $0.00002380. However, if sellers’ pressure continues and the candle closes near the mentioned mark, there is a chance to see a breakout, followed by a blast to $0.000020.
SHIB is trading at $0.00002626 at press time.