U.Today - The middle of the week is bearish for the market, according to CoinStats.
SHIB/USD
The price of SHIB has fallen by 2.64% over the last day.
On the hourly chart, the rate of SHIB is about to break the local resistance of $0.00001109. If it happens and the bar closes near its peak, growth may continue to the $0.00001150 mark tomorrow.
On the bigger time frame, the price of SHIB has once again bounced off the support of $0.00001028. However, bulls might need more time to accumulate energy for a further sharp move.
In this regard, consolidation in the narrow range of $0.00001050-$0.00001150 is the most likely scenario.
From the midterm point of view, one should focus on the weekly candle's closure in terms of the $0.00001078 level. If it happens far from it, there is a chance for a bounce off to the $0.000012 area.
SHIB is trading at $0.00001104 at press time.
This content was originally published on U.Today
