The cryptocurrency market keeps falling, according to the CoinMarketCap.
Top coins by CoinMarketCap
SHIB/USD
The price of SHIB has declined by 1.09% over the last 24 hours.
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The price of SHIB has broken the local support level at $0.00001016. If bulls cannot seize the initiative shortly, the fall is likely to continue to the next important level at $0.00001006. Such a scenario is relevant until the end of the day.
Image by TradingView
A similar situation can be seen on the daliy time frame. The price has not risen after a false breakout of the $0.00001016 level, which means that there is a high chance to see a further downward move. In this case, traders can think about a fall to the next crucial zone of $0.000010. Such a scenario is relevant until the end of the week.
Image by TradingView
From the midterm point of view, one should pay attention to the level at $0.00001007. If closure happens below it, there is a high probability of seeing a decline to the nearest support zone around $0.00000965.
SHIB is trading at $0.00001015 at press time.