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Bears remain more powerful than bulls, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
SHIB/USD
The price of SHIB has declined by 11.19% over the last 24 hours.
Image by TradingView
On the hourly chart, the price of SHIB has fixed below the support level of $0.00000874. If buyers cannot seize the initiative shortly, the drop may continue to the $0.000008 area soon.
Image by TradingView
On the daily time frame, the rate of SHIB has tested the mirror level of $0.0000853. If the candle closes near it or below, bears are likely to seize the initiative, which can lead to an ongoing decrease to the next support level of $0.00000758 within the next few days.
Image by TradingView
From the midterm point of view, traders should focus on the bar's closure.
If it happens below yesterday's bar low, the decline may lead to the test of the $0.00000750-$0.000008 area by the end of the month.
SHIB is trading at $0.00000855 at press time.
Godfrey Benjamin
Tomiwabold Olajide
