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The crypto market is going down after a few days of growth, according to CoinStats.
SHIB/USD
The rate of SHIB has declined by 2.74% since yesterday.
On the hourly chart, the price of SHIB is on its way to the resistance of $0.00001163. If bulls cannot seize the initiative, one can expect a level breakout, followed by a move to the $0.00001150 zone.
On the longer time frame, the rate of the meme coin is closer to the support than to the resistance. As there are no reversal signals so far, there is a possibility to witness a test of the $0.00001141 level by the end of the week.
From the midterm point of view, the price of SHIB keeps going down after a false breakout of the $0.00001344 resistance.
If the situation remains the same, traders may expect an ongoing correction to the $0.000011 zone until the end of the month.
SHIB is trading at $0.00001175 at press time.
U.Today Editorial Team
Vladislav Sopov