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Bears are weaker than bulls at the beginning of the week, according to CoinStats.
SHIB/USD
The price of SHIB has risen by 1.45% over the last 24 hours.
On the hourly chart, the rate of SHIB has made a false breakout of the local resistance of $0.00001282.
However, if buyers can hold the initiative and a correction does not occur, traders may expect a test of the $0.000013 area shortly.
On the longer time frame, the picture is bullish as the price of SHIB is testing the $0.00001288 level. If its breakout occurs, the accumulated energy might be enough for a move to the $0.000013-$0.00001320 range.
From the midterm point of view, none of the sides is dominating, as the rate of SHIB is far from the main levels. Thus, the volume is low, which means the sideways movement near the current prices is the most likely scenario.
SHIB is trading at $0.00001278 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team