The market keeps trading sideways, according to CoinMarketCap's ranking.
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SHIB/USD
The price of SHIB has risen by 5.71% since yesterday.
Image by TradingView
On the hourly chart, the rate of SHIB is trading near the local resistance after a bounce back from the support level at $0.00000758. If buyers can hold the gained initiative until the end of the day, the breakout may lead to a test of the $0.000008 zone tomorrow.
Image by TradingView
Despite today's growth, the rate of SHIB has not accumulated enough energy for a midterm rise yet as the price is far from the resistance.
However, if the upward move to $0.000008 continues, a test of the $0.00000850-$0.000009 area may happen shortly.
Image by TradingView
On the weekly chart, traders should pay attention to the bar closure. If it occurs above the previous candle peak at $0.00000797, there is a possibility to see a test of the resistance at $0.00000824 by the end of the month.
SHIB is trading at $0.00000775 at press time.
Tomiwabold Olajide
Arman Shirinyan
