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Bulls are trying to restore the lost initiative as most coins have returned to the green zone.
SHIB/USD
The rate of SHIB has risen by 1% over the last 24 hours.
On the hourly chart, the price of SHIB has broken the local resistance at $0.00001070. If buyers can hold the gained initiative until the end of the day, growth may continue to the $0.000011 zone.
On the bigger time frame, the price keeps trading sideways, accumulating power for a further move. If bulls want to get back in the game, they need to fix above the $0.000011 area.
A similar situation can be seen on the weekly chart, as the price is far away from the key levels. Until the price is below the $0.000011 mark, there are more chances to see an ongoing correction than a rise.
In this case, the rate is likely to locate in the range of $0.00001050-$0.00001080.
SHIB is trading at $0.00001073 at press time.
Alex Dovbnya
Tomiwabold Olajide
