The new month has begun with a correction on the cryptocurrency market, according to CoinStats.
SHB/USD
SHIB has followed the drop of other coins, going down by 0.16%.
On the hourly chart, the price of SHIB is rising after the breakout of the resistance of $0.00001333. Until the rate is above the $0.00001350, buyers are controlling the situation on the market.
In this reagard, the growth may continue to the $0.000015 area soon.
On the bigger time frame, traders should pay attentiont to yesterday’s peak of $0.00001473. If the daily bar closes near it, the midterm rise may lead to the $0.000015-$0.000016 zone next week.
From the midterm point of view, the price of SHIB is its way to testing the $0.00001591 level. However, the aproach to this mark plays a huge role. If it happens fast and a false breakout happens, bears might seize the initiative, which could lead to a correction.
SHIB is trading at $0.00001430 at press time.
More Stories
Space And Time Partners with Sui Network to Enhance Data Indexing For Developers
All 21 Million Bitcoin Already Exist Waiting To Be Unlocked By Auction
$85,000 BTC? – Bitcoin Breaks Out, Nearing New All-Time Highs As Analysts Weigh Possible Next Leg Up