Bulls are controlling the situation on the market on the first day of the weekend, according to CoinStats.

SHIB chart by CoinStatsSHIB/USD

The price of SHIB has gone up by 1.85% over the last day.

Image by TradingView

On the hourly chart, the rate of SHIB is rising after a false breakout of the recently formed support level of $0.00001753. If the upward move continues, there is a high chance of a test of the resistance by tomorrow.

Image by TradingView

On the daily time frame, neither side is dominating as the price of the meme coin is far from the main levels. In this case, any sharp moves are unlikely to happen soon. 

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All in all, ongoing sideways trading in the area of $0.00001750-$0.00001850 is the more likely scenario.

Image by TradingView

On the bigger chart, the picture is quite similar. If nothing changes by the end of the week, traders are unlikely to see sharp ups and downs.

SHIB is trading at $0.00001776 at press time.