Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The correction seems to have finished on the cryptocurrency market, according to the CoinMarketCap ranking.
SHIB/USD
SHIB has not followed the growth of other coins, going down by 0.66%.
On the hourly time frame, the rate of SHIB is about to fix above the local resistance at $0.00001083. Thus, the volume is rising, which confirms bulls' pressure. If the candle closes around that mark, growth may continue to $0.000011 tomorrow.
On the bigger chart, the rate of SHIB keeps trading sideways, accumulating power for a further move.
At the moment, none of the sides has accumulated enough power, which means that ongoing consolidation in the range of $0.00001050-$0.0000011 is the more likely scenario.
A similar situation can be seen on the weekly time frame. Traders may start thinking about a midterm rise only if the rate fixes above the $0.00001150 zone. Until it happens, further accumulation is the more likely scenario until mid-April.
SHIB is trading at $0.00001090 at press time.
Arman Shirinyan
Alex Dovbnya
