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The market keeps going down today, according to CoinMarketCap.
SHIB/USD
The rate of SHIB has declined by 6.41% over the last 24 hours.
On the hourly chart, the price of SHIB is near the local support of $0.00000889. If it does not bounce back, one can expect a further decline to the $0.00000880 range.
On the longer time frame, the rate of SHIB is far from key levels. In this case, one should focus on the daily bar's closure in terms of yesterday's candle's low.
If it happens around it or below, the correction is likely to continue to the $0.00000832 support.
From the midterm point of view, there are no reversal signals yet. If the breakout of the $0.00000832 level happens, there is a high chance of witnessing a test of the $0.00008 zone.
SHIB is trading at $0.00000896 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team