Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The market might have entered a correction zone as the rates of most of the coins are falling.
SHIB/USD
The rate of SHIB has risen by 0.34% over the past 24 hours.
On the hourly chart, SHIB is returning to the local support level at $0.00001225. If buyers cannot seize the initiative, a further drop may lead to a test of the $0.000012 zone by the end of the day.
On the daily time frame, the situation is also more bearish than bullish. The price has reached the interim support level at $0.00001222.
If the bar closes below it, the impulse might be huge, followed by a sharp drop to the $0.00001150 zone.
On the bigger chart, SHIB remains bullish as there is a large buying volume. In this case, the more likely scenario is a slight rise to the $0.000013 zone. However, buyers might need more time to accumulate power to make it happen.
SHIB is trading at $0.00001226 at press time.
Arman Shirinyan
Alex Dovbnya
