The majority of the coins remain in the green zone except for Bitcoin (BTC), whose rate has declined by 0.17% over the past 24 hours.
Top coins by CoinMarketCap
SHIB/USD
SHIB keeps setting new peaks, rocketing by 17.38% since yesterday.
SHIB/USD chart by TradingView
On the hourly chart, SHIB made a false breakout of the 4,800 satoshi mark supported by the increasing trading volume.
In terms of the nearest price action, the decline may continue to the liquidity zone at 4,000 satoshis, where bulls may again seize the initiative.
SHIB/USD chart by TradingView
On the 4H chart, the drop may continue as buyers have no power to keep the rise going. In this case, the correction may last until SHIB makes a retest of the support at 3,528 satoshis. Such a scenario is valid until the end of the current week.
SHIB/USD chart by TradingView
SHIB has been rising for the last five days, which confirms the current bullish trend. However, SHIB is overbought to a certain extent, which means that bulls can face a short-term correction to get more energy for continued growth.
The fall may bring SHIB to the nearest support at 3,200 satoshis shortly.
SHIB is trading at 4,625 satoshis at press time.
Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.
Recommended Content
Editors’ Picks
Ethereum attempts recovery following first rate cut in four years
Ethereum is trading above $2,330 on Wednesday as the market is recovering following the Federal Reserve's decision to cut interest rates by 50 basis points. Meanwhile, Ethereum exchange-traded funds recorded $15.1 million in outflows.
Bitcoin offers diversity for traditional investors: BlackRock
Bitcoin (BTC) is trading above $60,000 on Wednesday following the release of BlackRock's latest white paper, which addresses some of the top crypto assets' unique advantages to investors compared to traditional asset classes.
XRP pulls back 4% even as Ripple releases details of stablecoin RLUSD
Ripple (XRP) shared details of its stablecoin project Ripple USD (RUSD) in a blog published on Tuesday. The cross-border payment remittance firm discusses relevant legislation and plans to support the digital asset economy through RLUSD.
Bitcoin traders keep powder dry ahead of Fed decision on interest rates
Bitcoin retraces slightly, trading above $59,000 on Wednesday, as crypto markets brace for the upcoming interest-rate decision by the US Federal Reserve, which is expected to lower interest rates for the first time in more than four years.
Bitcoin: On the road to $60,000
Bitcoin price retested and bounced off from the daily support level of $56,000 this week. US spot Bitcoin ETFs posted $140.7 million in inflows until Thursday and on-chain data supports a bullish outlook.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.