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The weekend's drop continues on the cryptocurrency market, according to CoinStats.
SHIB/USD
The price of SHIB has declined by 4.13% over the past 24 hours.
On the hourly chart, the rate of the meme coin has tested the local resistance of $0.00001155. The volume is rising, which means there is a chance to see an ongoing upward move.
Denys SerhiichukIt might happen if the daily bar closes around the current prices or above and with a long wick.
On the bigger time frame, one should focus on the bar's closure in terms of the support level of $0.00001082. If it happens far from it, one can expect a bounce off to the $0.000012 area soon.
A similar picture can be seen on the weekly chart. As only a few days remain until the bar's closure, it is too early to make any distant predictions. If the candle closes around the current prices, sideways trading in the range of $0.000011-$0.000013 is the most likely scenario.
SHIB is trading at $0.00001144 at press time.
Vladislav Sopov
Dan Burgin