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Bulls are trying to seize the lost initiative as most of the coins are back in the green zone.
Top coins by CoinMarketCap
SHIB/USD
The rate of SHIB has risen by 1.67% over the last 24 hours.
Image by TradingView
Despite the slight growth, the price of SHIB has made a false breakout of the local resistance level at $0.00001045. If the daily closure happens below the $0.000010 mark, there is a high chance to see a drop below the support at $0.00001031.
Image by TradingView
On the bigger time frame, the drop continued after the price had fixed below the $0.000011 zone. The volume remains low, which means that bulls are not ready to buy the coin at the current levels.
Denys SerhiichukIf sellers' pressure continues to the important level at $0.00001, the accumulated energy may be enough for a further decrease to the $0.00000950 zone.
Image by TradingView
On the weekly chart, the price is on the way to the interim support level at $0.00000965. If the closure happens below it, traders are likely to see the rate of SHIB near the next vital area around $0.000008.
SHIB is trading at $0.00001039 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team