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 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
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Bears keep controlling the situation on the market, according to <a href="https://u.today/ethereum-eth-price-analysis-for-january-18" rel="noopener noreferrer nofollow">CoinStats</a>. <img data-entity-type="file" data-entity-uuid="7094a119-01b2-4650-a0fd-ddd6d4357198" src="https://u.today/sites/default/files/inline-images/top10_891.png">SHIB chart by&nbsp;<a href="https://coinstats.app/coins/" rel="noopener noreferrer nofollow">CoinStats</a>
<h2 id="shib-usd">SHIB/USD</h2>
The price of SHIB has declined by 2.73% since yesterday. <img data-entity-type="file" data-entity-uuid="fafcbc15-6764-4ed9-b9ba-011a2c84d95f" src="https://u.today/sites/default/files/inline-images/shib1_58.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SHIBUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the rate of SHIB is near the local support level of $0.00000908. If the daily candle closes around that mark, traders can expect a breakout, followed by a blast to the $0.0000090 zone. <img data-entity-type="file" data-entity-uuid="3b9a9edc-55d8-4020-9219-c9a878b3ca41" src="https://u.today/sites/default/files/inline-images/shib2_56.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SHIBUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, one should pay attention to the interim level of $0.0000090. If the bar closes below it, the drop is likely to continue to the nearest support of $0.00000828. <img data-entity-type="file" data-entity-uuid="0098ed33-d360-4aca-9a83-0e4c47e535ea" src="https://u.today/sites/default/files/inline-images/shib3_62.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SHIBUSD" rel="noopener noreferrer nofollow">TradingView</a>
A less clear picture can be seen on the weekly chart. A price is trading within the previous weekly bar, which means that neither bulls nor bears have seized the initiative yet.&nbsp;
Overall, ongoing sideways trading between $0.0000080 and $0.0000090 is the more likely scenario until the end of the month.
SHIB is trading at $0.00000913 at press time.

SHIB Price Analysis for January 19

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