The last day of the week has turned out to be bearish for the crypto market, according to CoinStats.
SHIB/USD
The price of SHIB has fallen by 4.42% since yesterday.
Despite today’s decline, the rate of SHIB keeps looking bearish on the hourly chart. If bulls cannot restore the price above the resistance of $0.00001752, the correction is likely to continue to the $0.000017 zone.
On the bigger time frame, there are no reversal signals yet. If the situation does not change, traders may witness a test of the $0.00001650 area shortly.
From the midterm point of view, the rate of SHIB has not accumulated enough energy for a sharp move.
In this case, sideways trading in the range of $0.000016-$0.000019 is the more likely scenario.
SHIB is trading at $0.00001721 at press time.