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Buyers might need more time to accumulate energy for further growth, according to CoinStats.
SHIB/USD
The rate of SHIB has gone down by 7.22% over the last 24 hours.
On the hourly chart, the price of SHIB is near the local support of $0.00001468. If nothing changes by the end of the day, the correction is likely to continue to the $0.000014 mark.
On the bigger time frame, traders should focus on the daily bar's closure in terms of the $0.00001485 level.
If the candle closes around that mark, one can expect an ongoing downward move to the $0.00001350-$0.000014 range.
From the midterm point of view, the rate of SHIB has made a false breakout of the resistance of $0.00001734. If the weekly bar closes far from that level, there is a chance to see a test of $0.000014 shortly.
SHIB is trading at $0.00001469 at press time.
Vladislav Sopov
Dan Burgin