The Bounce Back Might Be Over, According to CoinStats.

SHIB/USD

The price of SHIB has dropped by 3.85% over the last day.

On the hourly chart, the SHIB rate is falling after breaking the local resistance of $0.00001251. If buyers cannot seize the initiative shortly, the decline is likely to continue to the $0.000012 range.

On a larger time frame, there are no reversal signals yet. If the daily bar closes around current prices or below, there may be a test of the $0.00001150 area by the end of the week.

From a midterm perspective, sellers are continuing their pressure. The trading volume remains low, indicating that bulls are not yet ready to restore SHIB’s rate to previous levels.

In this case, the ongoing downward trend seems to be the more likely scenario.

SHIB is currently trading at $0.00001238.