19
A new week has begun with the fall of the market, according to CoinMarketCap.
$SHIB/USD
The rate of $SHIB has declined by 5.17% over the past day.
On the hourly chart, the price of $SHIB has made a false breakout of the local support of $0.000013. However, if a bounce back does not happen, one can expect a drop to the $0.00001260-$0.00001280 zone soon.
On the longer time frame, the rate of the meme coin is going down after a false breakout of the $0.00001438 level.
If the daily bar closes around the current prices or below, traders may witness a test of the $0.00001273 support shortly.
From the midterm point of view, the price of $SHIB is within the previous week's bar. As the rate is far from the main levels, there are low chances of seeing any sharp moves soon.
$SHIB is trading at $0.00001305 at press time.
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