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The market may have touched a local deep, according to CoinStats.
SHIB/USD
The rate of SHIB has increased by 4.77% over the last day.
Despite today's growth, the price of SHIB keeps looking bearish on the hourly chart. If the resistance breakout happens, the upward move may continue to the $0.00001250-$0.000013 area.
On the bigger time frame, it is too early to think about a bullish trend reversal.
Denys SerhiichukIf buyers want to seize the initiative, they need to restore the rate above the $0.000013 zone.
From the midterm point of view, the rate of SHIB is far from the key levels. If the weekly candle closes around the current prices, the consolidation in the area of $0.000012-$0.000014 is the more likely scenario.
SHIB is trading at $0.00001231 at press time.
Dan Burgin
Vladislav Sopov