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.

The cryptocurrency market is trading sideways on Sunday, according to CoinMarketCap.

Top coins by CoinMarketCap


The rate of SHIB has declined by 1.10% over the last 24 hours.

SHIB/USD chart by TradingView

On the hourly chart, the price of SHIB has found a local support level at $0.00001103. At the moment, one should pay attention to the daily closure. If it happens near the resistance at $0.00001131, the growth may continue to the $0.00001150 mark shortly.

SHIB/USD chart by TradingView

On the bigger time frame, the price of SHIB has bounced off the support at $0.00001089. While the rate is above that mark, a slight correction is possible.

From another point of view, the accumulated energy is not enough for a reversal, which means that the more likely scenario is sideways trading in the range of $0.000011-$0.00001150.

SHIB/USD chart by TradingView

The situation is more bearish on the weekly chart as the bar is about to close near the support at $0.00001086. If that happens and the candle closes with no long wicks, the decline may continue to the $0.000010 zone by the end of the month.

SHIB is trading at $0.00001117 at press time.

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