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Almost all coins from the top 10 million list are in the red zone today, according to CoinStats.
SHIB/USD
The rate of SHIB has declined by 1.88% over the last 24 hours.
On the hourly chart, the price of SHIB has made a false breakout of the local support of $0.00001121.
However, if the rate does not bounce back by the end of the day or fixes below the level, one can expect an ongoing downward move to the $0.00001110 zone.
On the longer time frame, there are no reversal signals so far. In this case, if the price breaks the nearest level of $0.00001116, there is a high probability of witnessing a test of the $0.000011 range.
From the midterm point of view, one should wait until the end of the week. If bulls cannot seize the initiative and the bar closes around the current prices or below, the correction may lead to the $0.00001028 support.
SHIB is trading at $0.00001122 at press time.
Vladislav Sopov
U.Today Editorial Team