Most of the coins remain under bears’ pressure on the last day of the week, according to CoinStats.
SHIB chart by CoinStats
SHIB/USD
The rate of SHIB has gone up by 0.3% since yesterday. Over the last week, the price has fallen by 8%.
Image by TradingView
On the hourly chart, the price of SHIB is in the middle of the local channel between the support of $0.00001280 and the resistance of $0.00001304.
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As neither buyers nor sellers are dominating, there are low chances of increased volatility by tomorrow.
Image by TradingView
On the daily time frame, the situation is bearish as the rate of the meme coin is near the support of $0.00001275. If buyers cannot seize the initiative and the bar closes around the current prices, the accumulated energy might be enough for a breakout, followed by an ongoing correction to the $0.00001250 mark.
Image by TradingView
From the midterm point of view, the price of SHIB is within the previous candle, which means neither side has enough energy for a sharp move. Bulls may only start thinking about further growth if a breakout of the $0.00001438 resistance happens.
SHIB is trading at $0.00001294 at press time.
