The market is mostly red again today, according to CoinMarketCap.
SHIB/USD
SHIB is one of the biggest losers today, going down by 6.81% over the last day.
On the hourly chart, the rate of SHIB is on its way to the local resistance of $0.00001188. If buyers’ pressure continues, one can expect a level breakout, followed by a move to the $0.00001220 zone.
On the bigger time frame, the price of SHIB has made a false breakout of the support of $0.00001141. However, even if the daily bar closes far from that mark, buyers might need more time to accumulate energy for a further move.
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In this case, sideways trading in the area of $0.00001150-$0.000012 is the most likely scenario.
From the midterm point of view, the picture is less positive. If the weekly candle closes around current prices or below, one can expect a test of the $0.000011 range soon.
SHIB is trading at $0.00001184 at press time.