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Bulls are not giving up so easily, according to CoinStats.

SHIB chart by CoinStats


The price of SHIB has increased by 1.70% since yesterday.

Image by TradingView

On the hourly chart, the price of SHIB is trading near the local resistance of $0.00000749. If the daily bar closes near that mark, the upward move may lead to a test of the $0.00000755 area tomorrow.

Image by TradingView

On the bigger time frame, the situation is less positive. The rate keeps trading sideways as neither side has enough power for a sharp move. The falling volume confirms this statement. Overall, consolidation in the area of $0.00000730-$0.00000760 is the more likely scenario for the next few days.

Image by TradingView

From the midterm point of view, the price has not bounced off far from the support of $0.00000695, which means it is too early to think about a midterm reversal. 

In this case, ongoing sideways trading in the area of $0.000007-$0.000008 is the more likely scenario until mid-October.

SHIB is trading at $0.00000742 at press time.

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