The crypto market is mainly falling today, according to CoinStats.
SHIB chart by CoinStats
SHIB/USD
The price of SHIB has declined by 0.42% over the last day.
Image by TradingView
On the hourly chart, the rate of SHIB is closer to the support than to the resistance level. However, if the growth continues, one can expect a test of the resistance by tomorrow.
Image by TradingView
On the bigger time frame, the situation is also more bearish than bullish.
You Might Also Like
If the daily bar closes below $0.00001397, traders may witness a support breakout, followed by a move to the $0.00001350 zone.
Image by TradingView
From the midterm point of view, one should pay attention to the weekly bar closure in terms of the nearest level of $0.00001397. If the candle closes below it, the fall may continue to the $0.000012 area.
SHIB is trading at $0.00001438 at press time.
