u.today
The market has come back to the green zone after a few days of dropping, according to CoinMarketCap.
$SHIB/USD
The rate of $SHIB has risen by 0.65% over the last 24 hours.
On the hourly chart, the price of $SHIB has made a false breakout of the local support at $0.00000789. However, if a bounce back does not happen, one can expect an ongoing drop to the $0.00000770-$0.00000780 range soon.
On the longer time frame, the rate of $SHIB is within yesterday's bar, which means the altcoin is not ready yet for a sharp move. This statement is also confirmed by the falling volume.
All in all, sideways trading in the zone of $0.00000770-$0.00000820 is the most likely scenario.
From the midterm point of view, the price of $SHIB is closer to the support than to the resistance, confirming ongoing sellers' pressure. If the drop continues to the $0.00000678 level and a breakout happens, the accumulated energy might be enough for a move to the $0.0000060 area.
$SHIB is trading at $0.00000794 at press time.