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Most of the coins are in the red zone today, according to CoinStats.
The price of SHIB has fallen by 4.88% over the last day.
On the hourly chart, the rate of SHIB is trading near the local support level of $0.00000937. If buyers cannot seize the initiative by the end of the day, there is a chance to see a breakout, followed by a blast to the $0.0000090 area.
On the bigger chart, the correction continues as there are no reversal signals yet. If the current bar closes below $0.0000940, the decline may lead to the test of the support of $0.00000923 until the end of the week.
A less clear picture can be seen on the weekly time frame. The volume keeps falling, which means that neither buyers nor sellers are dominating now.
In this case, ongoing sideways trading in the area of $0.0000090-$0.00000950 is the more likely scenario.
SHIB is trading at $0.00000945 at press time.
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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