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Bears do not seem ready yet to seize the initiative, according to CoinStats.
SHIB/USD
The price of SHIB has gone up by 1.33% over the past day.
On the hourly chart, the rate of SHIB is declining after a false breakout of the local resistance of $0.00001188. If sellers' pressure continues, traders may witness a test of the $0.0000116-$0.00001170 range by tomorrow.
On the longer time frame, the picture is neutral as the price is within yesterday's bar, which means there are low chances of seeing sharp moves soon.
In this regard, sideways trading in the area of $0.00001150-$0.000012 is the most likely scenario.
From the midterm point of view, the situation is similar. The volume keeps falling, confirming the absence of buyers' and sellers' energy. All in all, traders are unlikely to see increased volatility over the next few weeks.
SHIB is trading at $0.00001180 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team