SHIB Price Hits New High, But Buyers Hold Back
The SHIB price has seen some movement over the past day, but it's unclear if buyers are ready to take control. According to CoinStats, the rate of SHIB has increased by 0.38% in the last 24 hours.
On an hourly chart, a local support level has been set at $0.00000779 for SHIB. If the daily bar closes far from this level, traders may expect a bounce to the $0.0000080 zone by tomorrow.
Looking at the longer time frame, SHIB's price hasn't seen an increase since yesterday's bullish closure. If the daily candle closes around current prices or below them, there is a high chance of seeing a correction to the interim level of $0.00000750.
From a midterm perspective, SHIB's price is closer to its support than resistance levels. The volume remains low, indicating that bulls are not yet ready to seize the initiative.