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Bulls could not hold the initiative until the end of the day, and most coins have returned to the red zone, according to CoinStats.
SHIB/USD
The rate of SHIB has declined by 1.76% over the last 24 hours.
On the hourly chart, the price of SHIB is returning to the local support level of $0.00002985. If bulls cannot seize the initiative, traders may expect a breakout followed by a blast to the $0.000029 zone.
A bearish picture is also on the daily time frame. If the candle closes near the support level, there is a chance of a fall to the $0.000028-$0.000029 area at the beginning of April.
A less positive situation is on the weekly chart. The price is far from the support and resistance levels, which means that neither bulls nor bears are dominating at the moment.
In this case, sideways trading in the area of $0.000028-$.0000030 is the more likely scenario.
SHIB is trading at $0.00003024 at press time.
Arman Shirinyan
Alex Dovbnya
Gamza Khanzadaev
