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.
Even though the day has started with continued trading, bears are trying to seize the initiative as some coins have come back to the red zone.
SHIB/USD
The rate of SHIB is almost unchanged since yesterday as it has risen by only 0.11%.
On the hourly time frame, SHIB is about to break the local support level at $0.00001101. If bears can keep the pressure on and fix the price below that mark, the decline may lead to the test of the nearest zone of interest around $0.00001090.
The opposite situation can be seen on the daily chart as sideways trading remains the more likely scenario. However, if the price decrease continues to the $0.00001060 mark, traders can expect the test of the support level at $0.00001029 soon.
On the weekly chart, the price of SHIB is located closer to the support level than to the resistance, which confirms ongoing seller pressure. If buyers cannot change the situation shortly, there is a possibility of seeing the test of the $0.000010 mark in October.
SHIB is trading at $0.000011 at press time.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
Vladislav Sopov