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The weekend has started with a market reversal, according to CoinStats.
SHIB/USD
The price of SHIB has risen by 5% since yesterday.
On the hourly chart, the rate of SHIB is in the middle of the narrow channel, between the support of $0.00001390 and the resistance of $0.00001423.
As neither side has seized the initiative, ongoing sideways trading around the current prices is the more likely scenario.
On the bigger time frame, the picture is similar. The falling volume confirms such a statement. In this regard, traders may witness a consolidation in the zone of $0.00001350-$0.00001450 until the end of the week.
From the midterm point of view, buyers have failed to maintain the growth after the previous bullish closure. All in all, sideways trading around the current prices is the more likely scenario.
SHIB is trading at $0.00001399 at press time.
Vladislav Sopov
U.Today Editorial Team