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The correction has continued on the cryptocurrency market, according to CoinStats.
SHIB/USD
The price of SHIB has fallen by 1.4% since yesterday.
On the hourly chart, the rate of SHIB is trading near the local support level of $0.00000973.
If buyers cannot seize the initiative by the end of the day, there is a high chance to see a breakout tomorrow.
A bearish picture can also be seen on the longer time frame. If the bar closes with no long wick, the fall is likely to continue to the $0.00000950 area shortly.
From the midterm point of view, the rate of SHIB needs time to get more power for a further move. In this case, consolidation in the area of $0.000009-$0.00001 is the more likely scenario until the end of the month.
SHIB is trading at $0.00000971 at press time.
Arman Shirinyan
Alex Dovbnya
