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Buyers could not seize the initiative as most of the coins keep trading in the red zone, according to CoinMarketCap.
SHIB/USD
The rate of SHIB has increased by 0.59% over the last day.
On the hourly chart, the price of SHIB is looking more bullish than bearish as the rate is closer to the resistance than to the support. If the daily candle closes near $0.00002247, one can expect a breakout, followed by a move to the $0.000023 area.
On the bigger time frame, neither bulls nor bears are dominating. The price of SHIB is trading within yesterday's bar, which means traders are unlikely to see sharp ups or downs soon. All in all, ongoing consolidation in the area of $0.00002150-$0.000023 is the more likely scenario for the next days.
A similar picture is on the weekly chart. The volatility has reduced confirming the absence of buyers' and sellers' strength. In this case, one can expect sideways trading around the current prices until the end of the month.
SHIB is trading at $0.00002230 at press time.
Tomiwabold Olajide
Arman Shirinyan
Dan Burgin
Vladislav Sopov