Buyers have turned out to be more powerful than bears at the beginning of the weekend, according to CoinStats.
SHIB chart by CoinStatsSHIB/USD
The price of SHIB has declined by 0.33% over the last 24 hours.
Image by TradingView
On the hourly chart, the rate of SHIB is rising after a bounce back from the local support level of $0.00002453. If the daily bar closes far from it, the upward move may continue to the resistance of $0.00002520.
Image by TradingView
On the bigger time frame, today's rise has not affected the overall technical picture of DOGE. Such a statement is also confirmed by the falling volume.
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In this case, sideways trading in the narrow range of $0.00002450-$0.00002550 is the more likely scenario for the next week.
Image by TradingView
From the midterm point of view, the weekly bar is about to close far from its peak. If bulls cannot change the situation, traders are unlikely to see an upward move by the end of the month.
SHIB is trading at $0.00002484 at press time.
