u.today
Bulls are not yet able to seize the initiative, according to CoinMarketCap.
$SHIB/USD
The rate of $SHIB has declined by 0.74% over the last 24 hours.
On the hourly chart, the price of $SHIB is rising after setting local support at $0.00000677. If growth continues and the daily bar closes near the resistance, traders may expect an ongoing upward move to the $0.0000070 zone.
On the longer time frame, one should focus on the recently formed level at $0.00000691. If its breakout happens, the accumulated energy might be enough for further growth to the $0.00000720-$0.00000740 range.
This scenario is relevant for the rest of the week.
From the midterm point of view, the rate of $SHIB is within yesterday's bar, which means none of the sides has seized the initiative to make a sharp move. This is confirmed by the low volume. In this case, sideways trading in the area of $0.00000650-$0.00000750 is the most likely scenario.
$SHIB is trading at $0.00000680 at press time.