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The market is coming back to the green zone at the beginning of the week, according to CoinMarketCap.
SHIB/USD
The rate of SHIB has gone up by 1.35% over the past day.
On the hourly chart, the price of SHIB has set a local support level of $0.00001173. If a bounce back does not happen, the decline is likely to continue to the $0.00001160 area by tomorrow.
On the longer time frame, the rate of SHIB is far from key levels. The volume is low, which means none of the sides is ready to seize the initiative.
In this case, sideways trading in the range of $0.00001170-$0.000012 is the most likely scenario.
From the midterm point of view, the picture is more bearish than bullish. If the breakout of the support of $0.00001145 happens, the accumulated energy might be enough for a dump to the $0.00001050-$0.000011 range.
SHIB is trading at $0.00001176 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team