Buyers keep controlling the situation on the market, however, there are some exceptions.
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SHIB/USD
The price of SHIB has risen by 0.56% since yesterday.
Image by TradingView
On the hourly chart, the price of SHIB is neither bullish nor bearish as the rate is located in the middle of the channel. As most of the daily ATR has been passed, there are low chances to see any sharp moves today.
In this case, ongoing consolidation is the more likely scenario for today.
Image by TradingView
On the daily time frame, today's growth has not affected the technical position of SHIB. However, if the pressure continues to the $0.00000840 mark, the accumulated energy might be enough for a support breakout, followed by a drop to the $0.000008 area.
Image by TradingView
From the midterm point of view, traders should pay attention to the bar closure. If it happens below $0.00000847, the fall is likely to continue to the support at $0.00000778 shortly.
SHIB is trading at $0.00000852 at press time.
Alex Dovbnya
Arman Shirinyan