Buyers are back in the game, according to CoinStats.

SHIB chart by CoinStatsSHIB/USD

The price of SHIB has risen by 4.57% over the last day.

Image by TradingView

On the hourly chart, the rate of SHIB is in the middle of the local channel. However, if the daily bar closes near the resistance, there is a chance of a breakout, followed by a move to the $0.00001760 zone.

Image by TradingView

On the bigger time frame, one should pay attention to the candle closure in terms of the level of $0.00001710.

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If it happens near it and with no long wick, the accumulated strength might be enough for a rise to the $0.000018 range.

Image by TradingView

On the weekly chart, a fast reversal is unlikely, even though the bar might close in the bullish zone. Meanwhile, sideways trading in the area of $0.000016-$0.000018 is the more likely scenario.

SHIB is trading at $0.00001689 at press time.