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Bears have returned to the game, according to the CoinMarketCap ranking.
SHIB/USD
SHIB has followed the decline of most of the other coins, going down by 3.52%.
Despite sellers' pressure, the price of SHIB has made a false breakout of the recently formed support level at $0.00001183. If the bar closes above it, bulls have a chance to bounce back to the $0.000012 zone.
On the bigger time frame, the price is approaching the support at $0.00001170. That level plays a key role for bulls in terms of a possible rise. If they lose it, the accumulated energy can be enough for a downward move to the $0.000011 zone.
From the midterm point of view, SHIB is about to close below the previous candle low at $0.00001198. If that happens, the decline may continue to the test of the $0.000010 mark.
Denys SerhiichukSuch a scenario is relevant until the end of the month.
SHIB is trading at $0.00001190 at press time.
Dan Burgin
Yuri Molchan