According to CoinStats, sellers' pressure is still impactful in the cryptocurrency market. The price of SHIB has dropped by 0.87% in the past 24 hours. However, on the hourly chart, the price of SHIB is showing a bullish trend and is approaching the local resistance level of $0.00001580. If the daily bar closes above that level, there is a possibility of a breakout and a move towards the $0.000016 range. On a larger time frame, traders should pay attention to the bar closure in relation to yesterday's high. If it closes above it without a long wick, the upward movement may continue towards the $0.00001650-$0.000017 range. In the midterm, neither buyers nor sellers have a clear advantage. If this situation persists until the end of the week, significant price movements are unlikely by the end of the month. Currently, SHIB is trading at $0.00001569.



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