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Bulls are trying to hold the gained initiative, according to CoinStats.
SHIB/USD
The price of SHIB has risen by 0.45% over the last day.
On the hourly chart, the rate of SHIB is near the local support of $0.00001658. If a breakout happens, the accumulated energy might be enough for a move to the $0.00001640 range by tomorrow.
On the bigger time frame, neither side is dominating. The volume keeps falling, which means sharp moves are unlikely to happen soon.
Denys SerhiichukAll in all, consolidation in the area of $0.000016-$0.000017 is the more likely scenario.
From the midterm point of view, one should focus on the weekly bar closure in terms of the previous candle high. If it happens above the $0.000017 mark and with no long wick, traders may witness a test of the $0.000018 zone next week.
SHIB is trading at $0.00001663 at press time.
Vladislav Sopov
Dan Burgin