Bears are back in the game after a slight market bounce back, according to CoinStats.
SHIB chart by CoinStatsSHIB/USD
The rate of SHIB has gone down by almost 5% since yesterday.
Image by TradingViewOn the hourly chart, the price of SHIB is approaching the local support of $0.00001022. If buyers cannot seize the initiative, one can expect a level breakout, followed by a further correction to the $0.000010 area.
On the longer time frame, bulls are not ready yet to seize the initiative.
If the daily candle closes around the current prices or below them, the decline may continue to the $0.0000095 mark.
Image by TradingViewFrom the midterm point of view, the situation will be bearish until the price is below the mirror level of $0.00001145. The ongoing drop is the most likely scenario until the end of the month.
SHIB is trading at $0.00001034 at press time.
Source: https://u.today/shib-price-analysis-for-october-14
