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Bulls are controlling the situation on the market at the beginning of the weekend, according to CoinStats.
SHIB/USD
The price of SHIB has gone up by 2.49% over the last 24 hours.
On the hourly chart, the rate of SHIB is rising after a false breakout of the local support of $0.00000998. At the moment, one should focus on the daily candle closure in terms of the resistance of $0.00001017.
If it happens around it or above, the growth is likely to continue to the $0.00001025 zone.
On the bigger time frame, the price of SHIB is going up after a bounce from the support of $0.00000956. However, bulls might need more time to accumulate energy for a further move. In this case, sideways trading in the zone of $0.000010-$0.00001050 is the more likely scenario.
From the midterm point of view, neither side has enough strength for a sharp move. In this regard, traders are unlikely to see increased volatility.
SHIB is trading at $0.00001014 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team