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Most of the coins might need time to accumulate energy for a further move, according to CoinMarketCap.
SHIB/USD
The rate of SHIB has fallen by 2.1% over the last day.
On the hourly chart, the price of SHIB is near the local support of $0.00001413. If it breaks out, the accumulated energy might be enough for a move to the $0.000014 zone soon.
On the bigger time frame, the picture is also bearish.
If the daily bar closes below the $0.00001397 level, the accumulated energy might be enough for a dump to the $0.000013-$0.00001350 area shortly.
From the midterm point of view, the rate of SHIB is approaching the support of $0.00001397. As there are no reversal signals yet, traders may witness a test of the $0.00001250 range by the end of the month.
SHIB is trading at $0.00001412 at press time.
Vladislav Sopov
U.Today Editorial Team