The week is ending bearish for most coins, according to CoinStats.
SHIB chart by CoinStatsSHIB/USD
The rate of SHIB has fallen by almost 12% over the last 24 hours.
Image by TradingView
On the hourly chart, the price of SHIB is in the middle of the local channel between the support of $0.00002056 and the resistance of $0.00002299.
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As most of the daily ATR has been passed, ongoing sideways trading around $0.000022 is the more likely scenario until the end of the day.
Image by TradingView
On the daily time frame, the rate of SHIB has bounced off the support level of $0.000019. At the moment, one should pay attention to the candle closure. If it happens far from that mark, there is a chance to see a local upward move to the $0.000024 zone.
Image by TradingView
From the midterm point of view, the picture is less positive. If the weekly bar closes around the current prices, the drop may lead to a further correction to the $0.000016-$0.000018 range.
SHIB is trading at $0.00002174 at press time.
