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The middle of the week is mainly controlled by bulls, according to CoinMarketCap.
SHIB/USD
The price of SHIB has fallen by 0.87% over the last 24 hours.
On the hourly chart, the rate of SHIB has made a false breakout of the local support of $0.00000848. However, if a bounce back does not happen and the daily bar closes near that mark, one can expect an ongoing correction to the $0.00000840 range.
On the longer time frame, the price of SHIB is in the middle of the wide channel, between the support of $0.00000755 and the resistance of $0.00000937.
As none of the sides is dominating, there are low chances of seeing sharp moves this week.
From the midterm point of view, the picture is similar. However, if the weekly bar closes with a long wick, traders may witness a test of the $0.000007 range soon.
SHIB is trading at $0.00000848 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team