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The crypto market has turned red, according to CoinStats.
SHIB/USD
The rate of SHIB has dropped by 6.47% over the last day.
On the hourly chart, the price of SHIB is looking bullish as it is about to break the local resistance of $0.00002449. If it happens, there is a possibility to see a test of the $0.000025 range by tomorrow.
On the daily time frame, the picture is less positive. Even if today's bar closes bullish, the accumulated energy is not enough for a continued upward move.
Denys SerhiichukIn this case, sideways trading in the zone of $0.000023-$0.000026 is the more likely scenario.
From the midterm point of view, one should pay attention to the candle's closure in terms of the previous bar's low. If it happens below $0.00002418, the correction may continue to the next support of $0.00002107.
SHIB is trading at $0.00002446 at press time.
Yuri Molchan
Dan Burgin
Alex Dovbnya
Vladislav Sopov