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The weekend has begun with the market bounce off, according to CoinStats.
SHIB/USD
Unlike most of the other coins, the price of SHIB has dropped by 0.3% since yesterday.
On the hourly chart, the rate of SHIB is in the middle of a narrow channel, between the support of $0.00001263 and the resistance of $0.00001287.
Denys SerhiichukAs none of the sides is dominating and the volume keeps falling, there are low chances to expect sharp moves by tomorrow.
On the bigger time frame, the price of the meme coin is neutral at the moment. If buyers want to seize the initiative, they need to restore the rate above the nearest level of $0.000013. In that case, the breakout may lead to the $0.00001350-$0.000014 zone.
A less positive picture can be seen on the weekly chart. Even if the bar closes around the current prices, the energy might not be enough for a further move to the north. In this regard, sideways trading in the area of $0.000012-$0.000014 is the more likely scenario.
SHIB is trading at $0.00001278 at press time.
Vladislav Sopov
Dan Burgin