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Sellers have seized the initiative again as most of the coins are back to the red zone.
SHIB/USD
The rate of SHIB has followed the decline of other coins, going down by 4%.
On the hourly chart, the price of SHIB has set a local support level of $0.00000673. At the moment, the rate is in the middle of the channel.
As most of the daily ATR has been passed, sideways trading in the area of $0.00000685-$0.000007 is the most likely scenario until tomorrow.
On the daily time frame, the price of SHIB has broken the vital level of $0.00000709. Until the price is below that mark, bears remain more powerful than bulls, and there is still a high chance of a further drop. Meanwhile, $0.00000639 is the nearest support level.
On the bigger chart, the rate of SHIB is on its way to testing the closest support level of $0.00000639. At the moment, one should pay attention to the way the price approaches it. If the false breakout of it happens, there is a possibility of seeing a bounce back to the $0.000007 zone.
SHIB is trading at $0.00000691 at press time.
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Arman Shirinyan
Godfrey Benjamin
