Traders may witness a market bounce off, according to CoinStats.
SHIB/USD
The price of SHIB has increased by 0.52% since yesterday.
On the hourly chart, the rate of SHIB has made a false breakout of the local resistance of $0.00001764. If the daily bar closes far from it, there is a chance to see a correction to the $0.00001720 zone by tomorrow.
On the bigger time frame, the price has once again bounced back from the support level of $0.00001696. It is too early to think about an upward move; however, if the candle closes far from the bottom line, one can expect sideways trading in the range of $0.00001750-$0.000018.
From the midterm point of view, one should pay attention to the weekly bar’s closure in terms of the $0.00001696 level.
If it happens far from it, buyers might face a bounce back to the $0.000019 zone.
SHIB is trading at $0.00001737 at press time.
