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.
Neither bulls nor bears are dominating the market today, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
SHIB/USD
SHIB has failed to join the list of rising coins, falling by 1.02%.
Image by TradingView
On the local time frame, the rate of SHIB has found a resistance level at $0.00000868. If the correction continues, there is a chance to see a decline to the recently formed support at $0.0000085. Such a scenario is relevant until tomorrow.
Image by TradingView
On the daily chart, the price of SHIB keeps falling after a failed attempt to fix above the $0.000009 zone. If the candle closes below yesterday’s low, the energy may be enough for the breakout of support, followed by a drop to the $0.000008 zone.
Image by TradingView
A similar picture can be seen on the weekly time frame as the rate continues the drop after the breakout of the $0.00000965 level.
If buyers cannot seize the initiative shortly, traders can expect a test of the support at $0.00000778 within the next few days.
SHIB is trading at $0.00000860 at press time.
Source: https://u.today/shib-price-analysis-for-may-12