U.Today - The bulls do not seem powerful enough to keep the growth going, according to CoinStats.
SHIB chart by CoinStats
SHIB/USD
The rate of SHIB has gone down by 2.31% over the last 24 hours.
On the hourly chart, the price of SHIB has broken the local support level of $0.00001313. Until it is below that mark, bears will be more powerful than bulls.
In this case, growth may continue to the $0.00001280 range.
A bearish picture can also be seen on the daily time frame. If the bar closes around current prices, the accumulated energy might be enough for a support breakout, followed by a blast to the $0.00001150 zone.
From the midterm point of view, the situation is quite similar. As there are no reversal signals yet, traders can expect an ongoing downward move to the $0.00001 area until the end of the month.
SHIB is trading at $0.00001305 at press time.