SHIB Price Analysis for January 19

Bears keep controlling the situation on the market, according to CoinStats.

SHIB/USD

The price of SHIB has declined by 2.73% since yesterday.

On the hourly chart, the rate of SHIB is near the local support level of $0.00000908. If the daily candle closes around that mark, traders can expect a breakout, followed by a blast to the $0.0000090 zone.

On the bigger time frame, one should pay attention to the interim level of $0.0000090. If the bar closes below it, the drop is likely to continue to the nearest support of $0.00000828.

A less clear picture can be seen on the weekly chart. A price is trading within the previous weekly bar, which means that neither bulls nor bears have seized the initiative yet.

Overall, ongoing sideways trading between $0.0000080 and $0.0000090 is the more likely scenario until the end of the month.

SHIB is trading at $0.00000913 at press time.

Source