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Sellers' pressure remains relevant today as well, according to CoinStats.
SHIB/USD
The rate of SHIB has dropped by 0.87% over the last 24 hours.
On the hourly chart, the price of SHIB is looking bullish as it is on the way to the local resistance level of $0.00001580.
Denys SerhiichukIf the daily bar closes around that mark or above, there is a chance of a breakout, followed by a move to the $0.000016 zone.
On the bigger time frame, traders should focus on the bar closure in terms of yesterday's high. If it happens above it and with no long wick, the upward move is likely to continue to the $0.00001650-$0.000017 range soon.
From the midterm point of view, neither side is dominating. If the situation does not change by the end of the week, sharp moves are unlikely to happen by the end of the month.
SHIB is trading at $0.00001569 at press time.
Tomiwabold Olajide
Godfrey Benjamin
Dan Burgin
Vladislav Sopov