cryptopotato.com
Key Support level: $0.000023
Key Resistance levels: $0.000028
$SHIB went through a massive spike once the news of it being listed on Robinhood broke out. Despite the 35% surge, the cryptocurrency quickly returned under the key resistance at $0.000028, failing to convert this news into a sustained rally. The support at $0.000023 continues to hold since March.
Technical Indicators
Trading Volume: The volume exploded last Tuesday as the news broke out but could not be sustained. The initial hype faded, and now the price is back to its usual levels.
RSI: The daily RSI continues to hover around its mid-level point at 50. This indicates a flat trend without much direction, despite a sharp attempt by buyers to take Shiba higher.
MACD: The daily MACD did a bullish cross during the news about Robinhood, but that seems to have been a misleading signal as now the moving averages appear close to flipping bearish again.
Bias
The bias on $SHIB is neutral.
Short-Term Prediction for $SHIB Price
Even if $SHIB has been listed on Robinhood, sustained demand is simply not there yet, and holders have to be prepared for more sideways price action. The current trend is neutral, and $SHIB’s price can take in either direction from here.
