Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The week has started with ongoing bears' dominance, according to the CoinMarketCap ranking.
SHIB/USD
The rate of SHIB has declined by 1.74% over the past 24 hours.
Even though the day has started with the false breakout of the local support level at $0.00000855, bulls kept the rise going as the rate has bounced of the resistance at $0.00000936.
Denys SerhiichukIn this case, the more likely scenario is further sideways trading in the range of around $0.000009 until the end of the day.
On the daily time frame, the situation is not clear as neither bulls nor bears are fully controlling the situation at the moment. However, if buyers lose the important $0.000009 zone, the fall may continue to the support at $0.00000742 soon.
On the bigger chart, the price keeps slowly approaching the support level at $0.00000742 as well. The bulls can come back to the game if they restore the price above the $0.00001 area. However, one needs to wait until the weekly candle closes.
SHIB is trading at $0.00000902 at press time.
Tomiwabold Olajide
Vladislav Sopov
Dan Burgin