After a slight bounce back, the price of most of the coins keep going down, according to CoinMarketCap.
Top coins by CoinMarketCapSHIB/USD
The rate of SHIB has fallen by 4.56% over the last day.
Image by TradingView
On the hourly chart, the price of SHIB is in the middle of the local channel.
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However, if the upward move continues to the upper line, one can expect a breakout, followed by a move to the $0.0000222 zone.
Image by TradingView
On the bigger time frame, the rate of SHIB is coming back to the support level of $0.00002078. If its breakout occurs, the accumulated energy might be enough for a more profound drop to $0.000020.
Image by TradingView
A similar picture can be seen on the weekly chart. If the candle closes around current prices, traders may witness a test of the $0.000018 zone soon.
SHIB is trading at $0.00002157 at press time.