The crypto market is mainly controlled by sellers today, according to CoinStats.
SHIB/USD
The price of SHIB has declined by 3.73% since yesterday.
On the hourly chart, the rate of SHIB has made a false breakout of the local resistance of $0.00000799. If the daily bar closes far from that mark, one can expect a return to the support by tomorrow.
On the longer time frame, the price of the meme coin is closer to the support than to the resistance level.
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If bears’ pressure continues and the bar closes near the $0.00000755 level, traders can expect a breakout, followed by a test of the $0.0000070 zone.
From the midterm point of view, the picture is similar. If the weekly candle closes below the $0.00000755 level, the accumulated energy might be enough for a move to the next support of $0.00000678. This scenario is relevant for the rest of the month.
SHIB is trading at $0.00000790 at press time.