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The market is trading neutrally as the prices of some coins are rising while others keep falling, according to CoinMarketCap.
SHIB/USD
The price of SHIB has risen by 1.02% over the last 24 hours.
On the hourly chart, the rate of SHIB is looking bullish as it is testing the local resistance level of $0.00002328. If a breakout happens by the end of the day, the growth may continue to the $0.000024 area tomorrow.
On the bigger time frame, one should pay attention to the mirror level of $0.00002380. If the bar closes above it, there is a chance to see ongoing growth to the $0.000025-$0.000026 range. Such a scenario is relevant until the end of the month.
From the midterm point of view, neither bulls nor bears have accumulated enough energy for a continued move. The volume is low, confirming the absence of buyers' or sellers' strength. All in all, sideways trading in the area of $0.000020-$0.000025 is the more likely scenario for the upcoming weeks.
SHIB is trading at $0.00002324 at press time.
Arman Shirinyan
Alex Dovbnya
U.Today Editorial Team
Vladislav Sopov
Dan Burgin