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The bulls do not seem powerful enough to keep the growth going, according to CoinStats.
SHIB/USD
The rate of SHIB has gone down by 2.31% over the last 24 hours.
On the hourly chart, the price of SHIB has broken the local support level of $0.00001313. Until it is below that mark, bears will be more powerful than bulls.
Denys SerhiichukIn this case, growth may continue to the $0.00001280 range.
A bearish picture can also be seen on the daily time frame. If the bar closes around current prices, the accumulated energy might be enough for a support breakout, followed by a blast to the $0.00001150 zone.
From the midterm point of view, the situation is quite similar. As there are no reversal signals yet, traders can expect an ongoing downward move to the $0.00001 area until the end of the month.
SHIB is trading at $0.00001305 at press time.
Godfrey Benjamin
Alex Dovbnya