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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.
Some coins have already entered a correction phase, according to CoinStats.
The rate of SHIB has fallen by 6.35% over the past day.
On the hourly chart, the price of SHIB is trading near the support level of $0.00003361. If the situation does not change by the end of the day, one can expect a breakout followed by a drop to the $0.000032-$0.000033 zone.
On the bigger time frame, the rate is trading within yesterday’s bar, which means that neither side has seized the initiative yet.
This statement is also confirmed by the low volume. In this case, sideways trading around $0.000035 is the more likely scenario for the upcoming week.
From the midterm point of view, the weekly bar is about to close far from its peak. However, while the price is above the $0.00002966 level, bulls remain more powerful than bears. It means it is too early to think about a trend change.
SHIB is trading at $0.00003464 at press time.