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Most of the coins remain under bears' pressure, according to CoinMarketCap.
SHIB/USD
The price of SHIB has declined by 3.17% over the past day.
On the hourly chart, the rate of SHIB is near the local support of $0.00001183. If its breakout occurs, the decline may lead to the test of the $0.00001170$-$0.00001180 range soon.
On the longer time frame, the situation is also rather more bearish than bullish.
If the daily bar closes below the $0.00001181 level, the accumulated energy might be enough for a more profound drop to the $0.00001160 range.
From the midterm point of view, one should focus on the weekly bar's closure in terms of the $0.00001183 level. If its breakout occurs, traders may witness a dump to the $0.000011 zone soon.
SHIB is trading at $0.00001184 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team