The bounce back continues on the cryptocurrency market, according to CoinStats.
SHIB chart by CoinStatsSHIB/USD
The rate of SHIB has risen by 3.3% since yesterday.
Image by TradingView
Despite today's rise, the price of SHIB is looking bearish on the hourly chart. If the breakout of the $0.00001925 level happens, the correction is likely to continue to the $0.000019 zone.
Image by TradingView
A bearish picture can also be seen on the bigger time frame. The rate has once again failed to fix above $0.00001944. If bulls cannot seize the initiative by the end of the day, the drop may lead to the test of the $0.000018 range soon.
Image by TradingView
On the weekly chart, traders should focus on the candle's closure in terms of the $0.00001944 level.
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If it happens near or above it and with no long wick, there is a chance of an ongoing rise to the $0.000022 range.
SHIB is trading at $0.00001910 at press time.
