SHIB Price Analysis for January 30 - U.Today

The market keeps going down today, according to CoinMarketCap.

Top coins by CoinMarketCap## SHIB/USD

The rate of SHIB is almost unchanged since yesterday.

Image by TradingViewOn the hourly chart, the price of SHIB is rising after a false breakout of the local support at $0.00000711. If the daily bar closes near the resistance or above it, the upward move is likely to continue to the $0.00000750 range.

Image by TradingViewOn the longer time frame, the situation is less bullish. The rate of SHIB is far from main levels, which means neither bulls nor bears are dominating

In this case, sideways trading in the zone of $0.00000720-$0.00000750 is the most likely scenario this week.

Image by TradingViewFrom the midterm point of view, sellers remain more powerful than buyers as the price of SHIB has not bounced back far from the support at $0.00000678. In this case, traders may witness an ongoing correction at the beginning of next month.

SHIB is trading at $0.00000731 at press time.