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Bulls keep controlling the situation on the market as all of the top 10 coins remain in the green zone.
SHIB/USD
SHIB is the biggest gainer among the top 20 coins, rising by almost 12% over the past 24 hours.
On the hourly chart, SHIB is trading sideways after a sharp rise at the beginning of the day. The trading volume has declined, which means that there are few chances to see sharp moves.
In this case, the more likely scenario is trading around the area of the most liquidity at $0.00004870.
On the daily time frame, SHIB tested the resistance at $0.000050 and seems unlikely to decline from current prices. If the situation does not change by the end of the day, one may expect a breakout and further growth.
From the long-term point of view, there are long wicks on the weekly chart, which means that bulls are buying back every local dip. Thus, the selling trading volume is going down, confirming bears' weakness.
If buyers can fix above the vital level at $0.000050, the rise may continue to previous levels.
SHIB is trading at $0.00004869 at press time.
Vladislav Sopov
Dan Burgin