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The market is back to green at the beginning of the weekend, according to CoinMarketCap.
SHIB/USD
The rate of SHIB has risen by 0.80% over the last 24 hours.
On the hourly chart, the price of SHIB is in the middle of the local channel between the support of $0.00000896 and the resistance of $0.00000927. As neither side is dominating, there are low chances to see sharp moves by tomorrow.
On the bigger time frame, there are no reversal signals so far. If the daily candle closes near yesterday's bar low, one can witness a further decline to the $0.00000850 range.
Such a scenario is relevant until the end of next week.
From the midterm point of view, the situation is similar. If buyers cannot seize the initiative, there is a high chance to see a support breakout, followed by a further dump to the $0.0000070-$0.0000080 area.
SHIB is trading at $0.00000912 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team