SHIB's price has decreased by 3.85% over the last day. Let's review the current state, analyze charts, and assess further prospects.
Current Situation on the Hourly Chart
On the hourly chart, a decline is noticeable after the breakout of the local resistance at $0.00001251. If buyers do not seize the initiative soon, the decline is likely to continue to the $0.000012 range.
Daily Chart Analysis
On a larger time frame, there are no reversal signals yet. If the daily bar closes around the current prices or below, there is a chance to see a test of the $0.00001150 area by the end of the week.
Midterm Prospects
From a midterm perspective, sellers continue to exert pressure. The volume remains low, indicating that bulls are not yet ready to restore SHIB's rate to previous levels. The ongoing downward move is the more likely scenario.
Currently, SHIB is trading at $0.00001238. Chart and volume analysis suggest the possibility of continued decline in the midterm perspective.
