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Bulls are planning to seize the initiative at the beginning of the month, according to CoinStats.
SHIB/USD
The price of SHIB has gone up by 3.61% over the last day.
On the hourly chart, the rate of SHIB remains bullish. If the breakout of the local resistance happens, the rise is likely to continue to $0.00001330 tomorrow.
On the daily time frame, the daily bar is about to close bullish. However, there are low chances of an ongoing upward move as not enough energy has been accumulated so far.
Denys SerhiichukIn this case, sideways trading in the range of $0.00001250-$0.00001350 is the more likely scenario by the end of the week.
From the midterm point of view, neither bulls nor bears are dominating. If the weekly candle closes around the current prices, traders are unlikely to witness sharp moves.
SHIB is trading at $0.00001289 at press time.
Vladislav Sopov
Dan Burgin