The cryptocurrency market is experiencing a decline after a few days of growth.
The SHIB rate has decreased by 2.74% since yesterday.
On the hourly chart, the price of $SHIB is trending.
Towards the resistance level of 0.00001163 USD. If the bulls cannot take the initiative, a breakout of the resistance level is expected, followed by a move towards the 0.00001150 USD area.
In the longer term, the price of the meme coin is closer to the support level than the resistance level. And since there are no reversal signals yet, we are likely to see a test of the 0.00001141 USD level by the end of the week.
From a medium-term perspective, the price of $SHIB continues to decline after a false breakout of the resistance level of 0.00001344 USD.
If the situation continues as it is, traders may expect a continued correction to the 0.000011 USD area by the end of the month.
Trading $SHIB at 0.00001175 USD at the time of publication.
