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The crypto market keeps facing a correction, according to CoinStats.
SHIB/USD
The rate of SHIB has declined by 2% over the past day.
On the hourly chart, the price of SHIB is falling after setting a local resistance of $0.00000985. If buyers cannot seize the initiative, one can expect a test of the support by tomorrow.
On the longer time frame, the rate of SHIB is far from the support and resistance levels. The volume remains low, which means neither buyers nor sellers have accumulated enough energy for a sharp move.
In this case, sideways trading in the area of $0.000095-$0.000010 is the most likely scenario.
From the midterm point of view, the situation is similar. However, if the price failes to fix above the interim zone of $0.000010, traders can expect a test of the $0.00000832 support shortly.
SHIB is trading at $0.00000976 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team