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The market has come back to the green zone after a few days of dropping, according to <a href="https://u.today/bitcoin-btc-price-analysis-for-january-21">CoinMarketCap</a>.
<img data-entity-uuid="9ffe04bf-ba64-48f3-9509-fbe627e329fc" data-entity-type="file" src="https://u.today/sites/default/files/inline-images/top10_2531.png" data-caption="Top coins by<a href=&quot;https://coinmarketcap.com/&quot;> CoinMarketCap</a>">
<h2 dir="ltr" id="shib-usd">SHIB/USD</h2>
The rate of SHIB has risen by 0.65% over the last 24 hours.
<img data-entity-uuid="412cf359-10b8-4d4f-b1bf-1856fd17af54" data-entity-type="file" src="https://u.today/sites/default/files/inline-images/image_3970.png" data-caption="Image by&amp;nbsp;<a href=&quot;https://www.tradingview.com/symbols/SHIBUSDT&quot;>TradingView</a>">
On the hourly chart, the price of SHIB has made a false breakout of the local support at $0.00000789. However, if a bounce back does not happen, one can expect an ongoing drop to the $0.00000770-$0.00000780 range soon.
<img data-entity-uuid="0f7759b2-c233-4e5f-9faa-69abaaeb3c17" data-entity-type="file" src="https://u.today/sites/default/files/inline-images/image_3971.png" data-caption="Image by&amp;nbsp;<a href=&quot;https://www.tradingview.com/symbols/SHIBUSDT&quot;>TradingView</a>">
On the longer time frame, the rate of SHIB is within yesterday's bar, which means the altcoin is not ready yet for a sharp move. This statement is also confirmed by the falling volume.&nbsp;
All in all, sideways trading in the zone of $0.00000770-$0.00000820 is the most likely scenario.
<img data-entity-uuid="0552c386-7e0c-4e48-8343-224c00cc4960" data-entity-type="file" src="https://u.today/sites/default/files/inline-images/image_3972.png" data-caption="Image by&amp;nbsp;<a href=&quot;https://www.tradingview.com/symbols/SHIBUSDT&quot;>TradingView</a>">
From the midterm point of view, the price of SHIB is closer to the support than to the resistance, confirming ongoing sellers' pressure. If the drop continues to the $0.00000678 level and a breakout happens, the accumulated energy might be enough for a move to the $0.0000060 area.
SHIB is trading at $0.00000794 at press time. <a href="https://u.today/shib-price-analysis-for-january-22">Read original article on U.Today</a>

SHIB Price Analysis for January 22

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