SHIB Price Analysis for January 25

The market is going down on the last day of the week, according to CoinMarketCap.

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SHIB/USD

The rate of SHIB has declined by 2% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of SHIB is falling after a breakout of the local support at $0.00000774. If the situation does not change by the end of the day, one can expect a test of the $0.00000760-$0.00000770 range soon.

Image by TradingView

On the bigger time frame, the picture is also bearish. The rate is on the way to the support at $0.00000765.

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If a breakout happens, the accumulated energy might be enough for an ongoing drop to the $0.00000750 zone.

Image by TradingView

On the bigger time frame, the price of SHIB is approaching the support at $0.00000678. If bulls cannot seize the initiative, traders may witness a test of the $0.0000060-$0.0000070 range next month.

SHIB is trading at $0.00000774 at press time.

Source: https://u.today/shib-price-analysis-for-january-25