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The bounce back has not lasted long, and most of the coins are back to the red zone, according to CoinMarketCap.
SHIB/USD
The price of SHIB has fallen by 3.58% over the last 24 hours.
On the hourly chart, the rate of SHIB is looking bearish. If the daily bar closes around or below the support of $0.00001213, the decline is likely to continue to the $0.000012 mark shortly.
The picture is also bearish on the daily time frame. If buyers cannot seize the initiative soon, there is a possibility of seeing a level breakout, followed by a further drop to the $0.00001150 range.
From the midterm point of view, there are no reversal signals yet. In this case, one should focus on the nearest interim area of $0.000012.
Denys SerhiichukIf it breaks out, the accumulated energy might be enough for a test of the support of $0.00001078.
SHIB is trading at $0.00001236 at press time.
Vladislav Sopov
Dan Burgin