Bulls could not hold the gained initiative as the rates of some coins started to fall.
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SHIB/USD
The price of SHIB has risen by 0.48% since yesterday. Over the last week, the price has fallen by 1.50%.
Image by TradingView
On the local chart, the rate of SHIB has set the resistance level at $0.00000868. At the moment, traders should focus on the daily closure. If it occurs around that mark, there is an opportunity for a breakout followed by growth to $0.00000875.
Image by TradingView
On the bigger time frame, the situation is neutral as neither side is ready for a sharp move. The falling volume confirms this statement.
In this regard, ongoing consolidation in the narrow range of $0.00000850-$0.0000088 is the more likely scenario for the upcoming week.
Image by TradingView
From the midterm point of view, SHIB remains under sellers' pressure as the rate is located near the support level. However, if the bar does not close below the previous candle low at $0.00000828, one can expect a local rise to $0.000009 within the next few days.
SHIB is trading at $0.00000866 at press time.
Arman Shirinyan
Godfrey Benjamin
Yuri Molchan