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Most coins are rising at the end of the week, according to CoinStats.
SHIB/USD
The price of SHIB has increased by almost 1% since yesterday.
On the hourly time frame, the rate of SHIB is growing after a false breakout of the local support at $0.00000959.
Denys SerhiichukIf the daily candle closes around the current prices and with no long wicks, the growth may lead to a test of the vital zone of $0.000010.
On the bigger chart, neither bulls nor bears are dominating. Only if the bar returns to $0.000010 is there a possibility of an ongoing bullish trend. However, until it happens, traders may witness a local correction.
A similar situation is on the weekly time frame. At the moment, the rate is in the middle of the wide channel between the support of $0.00000827 and the resistance of $0.00001136. As neither side has seized the initiative yet, ongoing consolidation around the $0.000010 zone is the more likely scenario until the end of the month.
SHIB is trading at $0.00000978 at press time.
Alex Dovbnya
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team