Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
The cryptocurrency market keeps falling, according to the CoinMarketCap.
Top coins by CoinMarketCap
SHIB/USD
The price of SHIB has declined by 1.09% over the last 24 hours.
Image by TradingView
The price of SHIB has broken the local support level at $0.00001016. If bulls cannot seize the initiative shortly, the fall is likely to continue to the next important level at $0.00001006. Such a scenario is relevant until the end of the day.
Image by TradingView
A similar situation can be seen on the daliy time frame. The price has not risen after a false breakout of the $0.00001016 level, which means that there is a high chance to see a further downward move. In this case, traders can think about a fall to the next crucial zone of $0.000010. Such a scenario is relevant until the end of the week.
Image by TradingView
From the midterm point of view, one should pay attention to the level at $0.00001007. If closure happens below it, there is a high probability of seeing a decline to the nearest support zone around $0.00000965.
SHIB is trading at $0.00001015 at press time.
Source: https://u.today/shib-price-analysis-for-april-25