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Ongoing growth remains the most likely scenario for the crypto market, according to CoinStats.
SHIB/USD
The price of SHIB has risen by 2.39% since yesterday.
Despite today's rise, the rate of SHIB is on the way to the local support of $0.00001589. If the breakout of the mentioned level happens, the fall is likely to continue to the $0.00001550 range.
On the bigger time frame, the price of SHIB has made a false breakout of yesterday's bar peak.
If the daily closure happens with a long wick, bears may seize the initiative, which may lead to a test of the $0.000015 range soon.
From the midterm point of view, the rate of the meme coin has made a false breakout of the $0.00001734 level. At the moment, it is too early to make any far predictions as the week has just started. However, if the weekly candle closes far from the mentioned level, traders may witness a test of the $0.00001450-$0.00001550 area.
SHIB is trading at $0.00001621 at press time.
Vladislav Sopov