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Bulls are more powerful than bears in the middle of the week, according to CoinStats.
SHIB/USD
The price of SHIB has fallen by 1.31% since yesterday.
On the hourly chart, the rate of SHIB is bearish, approaching the local support of $0.00001298. If its breakout happens, one can expect a test of the $0.00001280-$0.00001290 range.
On the bigger time frame, there are also no reversal signals so far. The rate of the meme coin is falling after a bounce back of the resistance of $0.00001324.
If the candle closes around the current prices or below, there is a possibility to witness a move to the support.
From the midterm point of view, the picture is rather more bearish as the rate is closer to the support than to the resistance level. In this case, if buyers lose $0.00001230, one can expect dump to the $0.000011-$0.000012 range.
SHIB is trading at $0.00001299 at press time.
Vladislav Sopov
U.Today Editorial Team