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The prices of most of the coins are in the red zone today, according to CoinMarketCap.
SHIB/USD
SHIB is the exception to the rule as its price has gone up by 1.77% over the past day.
On the hourly chart, the rate of SHIB is on its way to the local support of $0.00000902. If its breakout happens, the fall is likely to continue to the $0.00000880-$0.00000890 range soon.
On the longer time frame, the price of SHIB is far from key levels. In this case, traders should focus on the daily bar's closure.
If it happens with a long wick, there is a high chance of seeing an ongoing drop to the support of $0.00000832.
From the midterm point of view, one should focus on the weekly candle's closure in terms of the $0.00000832 level. If the bar closes below it, traders may witness a further drop to the $0.000007-$0.000008 range.
SHIB is trading at $0.00000906 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team