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The cryptocurrency market is mainly falling today, according to CoinStats.

SHIB/USD

The rate of SHIB has fallen by 3.37% since yesterday.

On the hourly chart, the price of SHIB is about to break the local support of $0.00001732. If that happens, one can expect a test of the $0.000017 area by tomorrow.

On the bigger time frame, there are no reversal signals yet. If buyers cannot seize the initiative by the end of the day, there is a possibility of an ongoing decline to the $0.00001650-$0.000017 range next week.

From the midterm point of view, the weekly candle is about to close far from its peak. 

If nothing changes, bears may be back in the game, which may lead to a drop to the $0.000016 mark.

SHIB is trading at $0.00001733 at press time.