U.Today - Sellers are seizing the initiative at the end of the day, according to CoinStats.
SHIB chart by CoinStats
SHIB/USD
The price of SHIB has gone down by 1.68% since yesterday.
Image by TradingViewOn the hourly chart, the price of SHIB is in the middle of the local channel.
The volume has declined, which means there is a low chance of a sharp move until the end of the day.
Image by TradingViewA similar situation is developing on the bigger time frame. Until the price is below the resistance level of $0.00001440, bears are more powerful than bulls. Respectively, traders may witness a further drop to the $0.000013 range shortly.
Image by TradingViewOn the weekly chart, the rate of SHIB has bounced off the support level. However, it remains not far from it. If selling pressure continues and the price gets back to $0.00001266, there is a possibility to see a test of the vital area of $0.000010.
SHIB is trading at $0.00001375 at press time.
This content was originally published on U.Today
