Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
By the end of the week, some coins are coming back to the green zone, according to CoinMarketCap.
SHIB/USD
The rate of SHIB has risen by 1.6% over the last 24 hours.
On the hourly chart, the price of SHIB is going up after a breakout of the local resistance at $0.00000612. If bulls can hold the gained initiative, the upward move is likely to continue to the $0.00000650 range.
On the longer time frame, one should focus on the bar's closure in terms of the $0.00000642 level.
If the candle closes above it and with a short wick, the accumulated energy might be enough for ongoing growth to the $0.0000070 zone.
From the midterm point of view, the picture is less clear. The rate of SHIB is far from key levels, which means traders might not witness sharp moves soon. All in all, sideways trading in the range of $0.0000060-$0.0000070 is the most likely scenario.
SHIB is trading at $0.00000629 at press time.
Vladislav Sopov
Dan Burgin