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The market remains mainly green at the end of the week, however, there are some exceptions, according to CoinMarketCap.
SHIB/USD
The rate of SHIB has declined by 2.42% over the last 24 hours.
On the hourly chart, the price of SHIB is on the way to the local support at $0.00000833. If a breakout happens, the drop is likely to continue to the $0.00000820-$0.00000830 range shortly.
On the bigger time frame, the situation is also more bearish than bullish. The rate of SHIB is approaching the support at $0.00000826, which means bulls are not ready to seize the initiative yet.
In this case, traders may see an ongoing drop to the $0.0000080 zone over the next few days.
From the midterm point of view, the picture is less clear. The price of the meme coin is far from the support and resistance levels. As neither buyers nor sellers are dominating, traders are unlikely to witness sharp moves by the end of the month.
SHIB is trading at $0.00000836 at press time.
Denys Serhiichuk
Gamza Khanzadaev
Tomiwabold Olajide