U.Today - The bounce back might have finished, according to CoinStats.
SHIB/USD
The price of SHIB has dropped by 3.85% over the last day.
On the hourly chart, the rate of SHIB is falling after breaking the local resistance of $0.00001251. If buyers cannot seize the initiative shortly, the decline is likely to continue to the $0.000012 range.
On the bigger time frame, there are no reversal signals yet. If the daily bar closes around current prices or below, there is a chance to see a test of the $0.00001150 area by the end of the week.
From the midterm point of view, sellers are continuing their pressure. The volume remains low, which means bulls are not ready yet to restore the rate of SHIB to previous levels.
In this case, the ongoing downward move is the more likely scenario.
SHIB is trading at $0.00001238 at press time.
This content was originally published on U.Today
