Most of the cryptocurrencies are in the red zone today, according to CoinStats.

SHIB/USD

The price of SHIB has declined by 7.47% since yesterday.

On the hourly chart, the rate of SHIB has made a false breakout of the local support of $0.00001305.

However, if the daily bar closes near that mark, traders may witness a test of the $0.00001250 area soon.

On the bigger time frame, the price of SHIB has once again bounced off the interim level of $0.000013. However, if its breakout happens, the accumulated energy might be enough for an ongoing drop to $0.00001231.

From the midterm point of view, one should focus on the bar’s closure in terms of the support level of $0.00001231. If the weekly candle closes below it, there is a possibility to see a test of the vital area of $0.000010 soon.

SHIB is trading at $0.00001353 at press time.