Coins keep setting new local lows, according to CoinStats.
SHIB chart by CoinStatsSHIB/USD
SHIB is no exception to the rule, going down by 5.44%.
Image by TradingView
Despite today's fall, the price of SHIB is looking bearish on the local time frame. If the rate gets back to the support of $0.00001635, the accumulated energy might be enough for a breakout, followed by a move to the $0.000016 range.
Image by TradingView
On the daily chart, one should pay attention to the bar's closure in terms of the interim support level of $0.00001696.
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If the candle closes below it, the correction is likely to continue to $0.00001519.
Image by TradingView
On the bigger time frame, the price of SHIB is far from the main levels. However, if the bar closes below the last candle low, one can expect a test of the $0.000015 range within the next few weeks.
SHIB is trading at $0.00001680 at press time.
