Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The market is mostly red again today, according to CoinMarketCap.
SHIB/USD
SHIB is one of the biggest losers today, going down by 6.81% over the last day.
On the hourly chart, the rate of SHIB is on its way to the local resistance of $0.00001188. If buyers' pressure continues, one can expect a level breakout, followed by a move to the $0.00001220 zone.
On the bigger time frame, the price of SHIB has made a false breakout of the support of $0.00001141. However, even if the daily bar closes far from that mark, buyers might need more time to accumulate energy for a further move.
In this case, sideways trading in the area of $0.00001150-$0.000012 is the most likely scenario.
From the midterm point of view, the picture is less positive. If the weekly candle closes around current prices or below, one can expect a test of the $0.000011 range soon.
SHIB is trading at $0.00001184 at press time.
Vladislav Sopov
U.Today Editorial Team