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The new month has begun with a correction on the cryptocurrency market, according to CoinStats.
SHB/USD
SHIB has followed the drop of other coins, going down by 0.16%.
On the hourly chart, the price of SHIB is rising after the breakout of the resistance of $0.00001333. Until the rate is above the $0.00001350, buyers are controlling the situation on the market.
Denys SerhiichukIn this reagard, the growth may continue to the $0.000015 area soon.
On the bigger time frame, traders should pay attentiont to yesterday's peak of $0.00001473. If the daily bar closes near it, the midterm rise may lead to the $0.000015-$0.000016 zone next week.
From the midterm point of view, the price of SHIB is its way to testing the $0.00001591 level. However, the aproach to this mark plays a huge role. If it happens fast and a false breakout happens, bears might seize the initiative, which could lead to a correction.
SHIB is trading at $0.00001430 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin