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.
The bounce back may have finished on the cryptocurrency market, according to CoinMarketCap.
SHIB/USD
The rate of SHIB has declined by 2.49% over the last 24 hours.
Despite today's fall, the price of SHIB is looking bullish on the hourly chart as it is trading near the local resistance.
If buyers can hold the gained initiative, there is a chance to see a breakout, followed by a move to the $0.000023 zone.
On the bigger time frame, the situation is neutral as the rate of SHIB keeps accumulating energy. As none of the sides is dominating, consolidation in the area of $0.000020-$0.000024 is the more likely scenario until the end of the week.
From the midterm point of view, the picture is quite similar. The volatility has declined, confirming the absence of buyers' and sellers' strength. Traders may expect sideways trading around current prices within the next few days.
SHIB is trading at $0.00002216 at press time.
Gamza Khanzadaev
Yuri Molchan
Arman Shirinyan
