The Market Update

The market is mainly falling today; however, there are some exceptions, according to CoinStats.

SHIB/USD

The price of SHIB has increased by 0.64% over the last day.

On the hourly chart, the rate of SHIB is breaking the local support of $0.00001549. If a breakout happens and the bar closes far from that mark, the drop is likely to continue to the $0.000015 area soon.

From the daily point of view, neither side is dominating. If bulls want to seize the initiative, they need to return the price to at least the $0.000016 zone.

From the midterm point of view, the situation is similar.

The rate of SHIB is trading within a narrow range, which means traders are unlikely to witness sharp moves next week.

SHIB is trading at $0.00001547 at press time.