SHIB Price Analysis for October 19

Most of the coins are in the red zone, according to CoinStats.

SHIB/USD

The rate of SHIB has declined by 1.80% over the last day.

On the hourly chart, traders should focus on the local resistance level of $0.00000676.

If the bar breaks it and fixes above, one can expect a further upward move to the $0.00000690 area.

On the daily time frame, traders should focus on the bar closure in terms of yesterday’s bar low. If a false breakout happens, there is a possibility to see a local correction to the $0.0000069-$0.0000070 zone soon.

A bearish picture remains on the weekly chart. If the bar closes with no long wick, the decline will likely continue to the support level of $0.00000639.

SHIB is trading at $0.00000673 at press time.

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