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Bulls are controlling the situation on the market at the beginning of the weekend, according to CoinStats.
SHIB/USD
The rate of SHIB has risen by 8.9% over the last day.
On the hourly chart, the price of SHIB has made a false breakout of the local resistance of $0.00001483.
However, if the daily bar closes not far from that level, the rise is likely to continue to the $0.000015 zone.
On the bigger time frame, the rate of the meme coin has broken the $0.00001428 resistance. If bulls can hold the gained initiative and the candle closes around the current prices, one can expect a test of the $0.00001550-$0.000016 range soon.
From the midterm point of view, the price of SHIB is in the middle of the wide channel. As neither side has seized the initiative, ongoing sideways trading in the range of $0.000014-$0.000016 is the more likely scenario.
SHIB is trading at $0.00001467 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team