Neither bulls nor bears are controlling the situation on the market on the first day of the weekend, according to CoinStats.
SHIB chart by CoinStats
SHIB/USD
The price of SHIB has gone up by 1.4% over the last 24 hours.
Image by TradingView
Despite today’s growth, the rate of SHIB is looking bullish on the hourly chart. If a breakout of the resistance happens, the accumulated energy might be enough for an ongoing upward move to the $0.00001250-$0.00001270 zone.
Image by TradingView
On the bigger time frame, the picture is less bullish. The price of the meme coin is closer to the support than to the resistance level.
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If buyers lose the interim area of $0.000012, the correction may lead to a test of the $0.00001160 mark shortly.
Image by TradingView
From the midterm point of view, neither side has accumulated enough strength to seize the initiative. The volume is low, which means sharp moves are unlikely to happen the upcoming week.
SHIB is trading at $0.00001240 at press time.
