Buyers are not ready to seize the initiative yet, according to CoinStats.
SHIB chart by CoinStatsSHIB/USD
Unlike other coins, the rate of SHIB has gone up by 0.38% over the last 24 hours.
Image by TradingViewOn the hourly chart, the price of SHIB has set a local support at $0.00000779. If the daily bar closes far from that level, traders may expect a bounce off to the $0.0000080 zone by tomorrow.
Image by TradingViewOn the longer time frame, the rate of SHIB has not gone up after yesterday’s bullish closure. If the daily candle closes around the current prices or below them, there is a high chance of seeing an ongoing correction to the interim level of $0.00000750.
Image by TradingViewFrom the midterm point of view, the price of the meme coin is closer to the support than to the resistance level.
The volume remains low, which means bulls are not ready yet to seize the initiative.
SHIB is trading at $0.00000788 at press time.
Source: https://u.today/shib-price-analysis-for-january-20
