U.Today - Bears are controlling the initiative on the last day of the week, according to CoinStats.
SHIB/USD
The rate of SHIB has declined by almost 7% over the last day.
On the hourly chart, the price of SHIB remains bearish. If a breakout of the local support of $0.00001690 happens, one can expect a test of the $0.00001650 area shortly.
On the daily time frame, sellers are also more powerful than buyers. If the candle closes around the current prices, traders may witness an ongoing decline to the $0.00001550-$0.000016 zone by the end of the upcoming week.
From the midterm point of view, the price of SHIB is on the way to the support level of $0.00001550.
If buyers cannot seize the initiative, there is a chance of a test of the $0.000014-$0.000015 range.
SHIB is trading at $0.00001711 at press time.
This content was originally published on U.Today
