SHIB Price Analysis for January 19
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Bears keep controlling the situation on the market, according to CoinStats.
SHIB/USD
The price of SHIB has declined by 2.73% since yesterday.
On the hourly chart, the rate of SHIB is near the local support level of $0.00000908. If the daily candle closes around that mark, traders can expect a breakout, followed by a blast to the $0.0000090 zone.
On the bigger time frame, one should pay attention to the interim level of $0.0000090. If the bar closes below it, the drop is likely to continue to the nearest support of $0.00000828.
A less clear picture can be seen on the weekly chart. A price is trading within the previous weekly bar, which means that neither bulls nor bears have seized the initiative yet.
Overall, ongoing sideways trading between $0.0000080 and $0.0000090 is the more likely scenario until the end of the month.
SHIB is trading at $0.00000913 at press time.
