The end of the week is bearish for most of the coins, according to CoinMarketCap.
Top coins by CoinMarketCapSHIB/USD
The price of SHIB has dropped by 0.17% over the last 24 hours.
Image by TradingViewOn the hourly chart, the rate of SHIB keeps going down after a false breakout of the local support at $0.00000671. If the daily bar closes below that mark, there is a chance to see a test of the $0.00000650 range shortly.
Image by TradingViewOn the bigger time frame, there are also no reversal signals so far. In this case, one should pay attention to the nearest level of $0.00000678.
If a breakout happens, traders may witness a further decline to the $0.00000600 zone over the next few days.
Image by TradingViewA similar picture is on the weekly time frame. If sellers’ pressure continues, the accumulated energy might be enough for a dump to the next support level at $0.00000543.
SHIB is trading at $0.00000671 at press time.
Source: https://u.today/shib-price-analysis-for-february-1
