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Bulls are controlling the initiative at the end of the year, according to CoinMarketCap.
SHIB/USD
SHIB is an exception to the rule, falling by 2.46% over the last day.
On the hourly chart, the rate of SHIB is on its way to the local support at $0.00000713. If the situation does not change by the end of the day, traders may expect a test of the $0.0000070 area tomorrow.
On the longer time frame, the picture is rather more bearish than bullish. The price of the meme coin is closer to the support than to the resistance, which means bears are more powerful than bulls.
If a breakout of the $0.000007 level occurs, the accumulated energy might be enough for a move to the $0.00000650 range.
From the midterm point of view, buyers have failed to keep growing after the previous bullish bar closure. In this case, traders may see a test of the nearest support at $0.00000678 over the next few weeks.
SHIB is trading at $0.00000717 at press time.
Denys Serhiichuk
Tomiwabold Olajide
Alex Dovbnya
Gamza Khanzadaev
Vladislav Sopov