u.today
The market keeps going down today, according to CoinMarketCap.
$SHIB/USD
The rate of $SHIB is almost unchanged since yesterday.
On the hourly chart, the price of $SHIB is rising after a false breakout of the local support at $0.00000711. If the daily bar closes near the resistance or above it, the upward move is likely to continue to the $0.00000750 range.
On the longer time frame, the situation is less bullish. The rate of $SHIB is far from main levels, which means neither bulls nor bears are dominating.
In this case, sideways trading in the zone of $0.00000720-$0.00000750 is the most likely scenario this week.
From the midterm point of view, sellers remain more powerful than buyers as the price of $SHIB has not bounced back far from the support at $0.00000678. In this case, traders may witness an ongoing correction at the beginning of next month.
$SHIB is trading at $0.00000731 at press time.