Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Buyers are becoming weaker as most of the coins have returned to the red zone, according to CoinStats.

SHIB/USD

The rate of SHIB has dropped by 0.48% over the last 24 hours.

On the hourly chart, the price of SHIB is testing the local support of $0.00001732. If it breaks out, the fall is likely to continue to the $0.000017 zone.

On the daily time frame, one should focus on the interim area of $0.000017. If the rate gets to it and the bar closes with no long wick, traders may witness a more profound decrease to the $0.000016-$0.00001650 range shortly.

From the midterm point of view, the price of SHIB is far from key levels. If buyers want to get back in the game, they need to restore the rate to the resistance of $0.00002017.

In that case, one can expect growth to the $0.000022-$0.000024 area.

SHIB is trading at $0.00001736 at press time.