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Some coins keep setting new local peaks, while others have returned to the red zone, according to CoinStats.
SHIB/USD
The price of SHIB has declined by 0.72% over the last 24 hours.
On the hourly chart, the rate of the meme coin is going down after a false breakout of the resistance of $0.00001319. If the daily candle closes near the resistance or below it, one can expect a test of the $0.00001290 area shortly.
On the longer time frame, the situation is neither bullish nor bearish. The price of SHIB is within yesterday's bar, which means neither bulls nor bears have accumulated enough strength to seize the initiative.
In this case, sideways trading in the zone of $0.000013-$0.00001320 is the most likely scenario.
From the midterm point of view, the picture is similar. Buyers may start thinking about a further upward move only if a resistance breakout happens.
SHIB is trading at $0.00001305 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team