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The end of the week has turned out to be bullish for most of the cryptocurrencies, according to CoinStats.
SHIB/USD
The price of SHIB has gone up by 2.27% since yesterday.
On the hourly chart, the rate of SHIB is on the way to the local resistance of $0.00000741. If buyers can hold the gained initiative, the breakout may lead to a further upward move to the $0.00000750 area.
On the bigger time frame, the price of SHIB is far from the main levels. In this case, traders should focus on yesterday's candle high.
If closure happens above $0.00000740 and with a high wick, the growth may lead to a test of the $0.00000770 zone over the next few days.
From the midterm point of view, the rate of the meme coin has made a false breakout of the formed support at $0.000007. If the weekly bar closes far from that mark, traders may see a bounce back to the $0.000008 range.
SHIB is trading at $0.00000736 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team