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SHIB Price Analysis for July 19
As the weekend approaches, Shiba Inu’s (SHIB) price has started to decline by 0.43% over the past 24 hours. According to CoinStats, bears are back in the game. The current hourly chart indicates that SHIB is falling after hitting a local resistance of $0.00001534.
In the event this scenario plays out without any significant changes, there’s a possibility of a decline to the $0.00001445 mark by tomorrow. On the bigger time frame, bulls are facing difficulties in their ascent towards local peaks.
Based on the midterm perspective, sideways trading within the range of $0.000014-$0.000015 may be the more likely scenario at this point. If the weekly candle closes with a long wick, traders might expect a local correction to the $0.000014 mark in the near future.
Source: u.today
