The cryptocurrency market’s outlook remains positive as SHIB price analysis indicates a downward trend. According to CoinStats, SHIB/USD has declined by 0.22% over the past 24 hours. Analyzing the hourly chart reveals that SHIB is near its local support level of $0.00001414. A close above this mark could signal a further fall to the $0.000014 area. 48-hour time frames point to a more bearish trend as well, with SHIB approaching its support zone of $0.00001397. 24-hour chart suggests that if this support level is breached, the accumulated energy could lead to a test of the $0.00001350 mark. Medium-term analysis shows that SHIB’s price movement has reversed after a false breakout attempt against resistance of $0.00001734. However, the token remains far from key levels and is likely to remain in a sideways range between $0.00001350 and $0.000015 in the near future. SHIB currently trades at $0.00001426 according to U.Today’s latest report.