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Buyers are weaker than bears at the beginning of the weekend, according to CoinStats.
SHIB/USD
The price of SHIB has declined by 3.52% over the last day.
On the hourly chart, the rate of SHIB is closer to the support than to the resistance level. If the situation does not change by the end of the day, one can expect a test of the $0.00001230-$0.00001240 area soon.
On the bigger time frame, the price of the meme coin keeps falling for the third day in a row. At the moment, one should focus on the candle closure in terms of the interim zone of $0.00001250.
Denys SerhiichukIf a breakout happens, there is a possibility of an ongoing drop to the $0.000012 mark.
From the midterm point of view, the weekly bar is about to close with a long wick, which is a bearish signal. If bulls cannot seize the initiative, the accumulated energy might be enough for a test of the $0.00001078 level.
SHIB is trading at $0.00001277 at press time.
Vladislav Sopov
Dan Burgin