Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Some coins are ready to bounce back, according to CoinMarketCap’s ranking.

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The rate of SHIB has increased by 1% over the last day.

SHIB/USD chart by TradingView

Despite the slight rise, the rate of SHIB has broken the local support level at $0.00001014. If the price remains below that mark until the end of the day, the fall may continue to the vital zone of $0.000010 shortly.

SHIB/USD chart by TradingView

The situation is a little bit different on the daily time frame. The price is above the support at $0.00000982, which means that bulls are not ready to give up so easily.

All in all, consolidation in the narrow range around $0.000010 is the more likely scenario for the next few days.

SHIB/USD chart by TradingView

On the weekly chart, traders should pay attention to the support level at $0.00001007. If the candle closes near this mark or even below it, the upcoming week can also become bearish for SHIB with a potential decline to the $0.000009 area.

SHIB is trading at $0.00001013 at press time.

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