The crypto market has shown a decrease after a growth period. The most notable change is the decline in SHIB's rate by 2.74%.
Overall Market Conditions
According to CoinStats, the crypto market continues to show a decline after a few days of growth. This fall affects numerous cryptocurrencies, including SHIB.
SHIB Rate Dynamics
The rate of SHIB has decreased by 2.74% since yesterday. On the hourly chart, the price is at the resistance level of $0.00001163. If bulls cannot take the initiative, a level break could occur, followed by a move to the $0.00001150 zone.
Future Predictions
On longer time frames, the SHIB rate is closer to support than resistance. Currently, there are no reversal signals, and a test of the $0.00001141 level by the end of the week is likely. If conditions remain unchanged, traders might expect a continued correction to the $0.000011 zone by the end of the month.
Given the current uncertainty, the cryptocurrency market shows a decline, with SHIB's rate remaining under pressure, which raises concerns among traders.
