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The market keeps going down at the beginning of the weekend, according to CoinStats.
SHIB/USD
The price of SHIB has fallen by 3.32% over the last 24 hours.
On the hourly chart, the rate of SHIB has set a local support of $0.00000756.
If the daily bar closes far from that level, bulls may seize the initiative, which may lead to a test of the resistance soon.
On the bigger time frame, there are no reversal signals so far. If the daily bar closes around the current prices or below, the decline may lead to a test of the $0.000007 range soon.
From the midterm point of view, the rate of SHIB is on the way to the support of $0.00000678. If the situation does not change and sellers' pressure continues, there is a chance to see an ongoing decline to the $0.0000060 range.
SHIB is trading at $0.00000767 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team