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.
Some coins are ready to bounce back, according to CoinMarketCap's ranking.
SHIB/USD
The rate of SHIB has increased by 1% over the last day.
Despite the slight rise, the rate of SHIB has broken the local support level at $0.00001014. If the price remains below that mark until the end of the day, the fall may continue to the vital zone of $0.000010 shortly.
The situation is a little bit different on the daily time frame. The price is above the support at $0.00000982, which means that bulls are not ready to give up so easily.
All in all, consolidation in the narrow range around $0.000010 is the more likely scenario for the next few days.
On the weekly chart, traders should pay attention to the support level at $0.00001007. If the candle closes near this mark or even below it, the upcoming week can also become bearish for SHIB with a potential decline to the $0.000009 area.
SHIB is trading at $0.00001013 at press time.
Vladislav Sopov