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Some coins keep setting new local peaks, while others have returned to the red zone, according to CoinStats.
$SHIB/USD
The price of $SHIB has declined by 0.72% over the last 24 hours.
On the hourly chart, the rate of the meme coin is going down after a false breakout of the resistance of $0.00001319. If the daily candle closes near the resistance or below it, one can expect a test of the $0.00001290 area shortly.
On the longer time frame, the situation is neither bullish nor bearish. The price of $SHIB is within yesterday's bar, which means neither bulls nor bears have accumulated enough strength to seize the initiative.
In this case, sideways trading in the zone of $0.000013-$0.00001320 is the most likely scenario.
From the midterm point of view, the picture is similar. Buyers may start thinking about a further upward move only if a resistance breakout happens.
$SHIB is trading at $0.00001305 at press time.
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