Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bulls are not giving up so easily, according to CoinStats.
SHIB/USD
The price of SHIB has increased by 1.70% since yesterday.
On the hourly chart, the price of SHIB is trading near the local resistance of $0.00000749. If the daily bar closes near that mark, the upward move may lead to a test of the $0.00000755 area tomorrow.
On the bigger time frame, the situation is less positive. The rate keeps trading sideways as neither side has enough power for a sharp move. The falling volume confirms this statement. Overall, consolidation in the area of $0.00000730-$0.00000760 is the more likely scenario for the next few days.
From the midterm point of view, the price has not bounced off far from the support of $0.00000695, which means it is too early to think about a midterm reversal.
In this case, ongoing sideways trading in the area of $0.000007-$0.000008 is the more likely scenario until mid-October.
SHIB is trading at $0.00000742 at press time.