The crypto market is rising again after yesterday’s drop, according to CoinStats.
SHIB/USD
The rate of SHIB has gone up by 7.15% over the last 24 hours.
On the hourly chart, the price of SHIB is near the formed resistance of $0.00001406. The volume is rising, which means traders may see an ongoing upward move to the $0.00001450 zone.
On the longer time frame, the rate of the SHIB is testing the $0.00001397 level again.
You Might Also Like
If the candle closes near that mark and with no long wick, one can expect a breakout, followed by a blast to the $0.000015 range.
From the midterm point of view, traders should pay attention to the weekly bar closure in terms of the $0.00001362 level. If it breaks out, the accumulated energy might be enough for a move to the $0.000015-$0.000016 area.
SHIB is trading at $0.00001388 at press time.
Source: https://u.today/shib-price-analysis-for-july-16