Shiba Inu Price Analysis: Following the Robinhood News, Here’s The Next Target for SHIB

Key Support level: $0.000023

Key Resistance levels: $0.000028

SHIB experienced a huge spike after the announcement that it was listed on Robinhood. Despite the 35% increase, SHIB quickly fell below $0.000028. This news did not translate into a sustained rally. Since March, the support at $0.000023 has held.

Chart by TradingView

Technical Indicators

Trading Volume: As the news broke, volume spiked but it couldn’t be sustained. The initial hype has subsided and the price is now back at its normal levels.

RSI: The daily RSI is hovering around 50, its mid-level. This suggests a flat trend with no direction, despite buyers’ sharp attempts to move Shiba higher.

MACD: MACD’s daily MACD made a bullish crossing during Robinhood news, but it seems that this was a misleading signal. Now the moving averages seem close to flipping bearish.

Chart by TradingView

Bias

SHIB has a neutral bias.

SHIB Price Predictions for the Short-Term

SHIB was not listed on Robinhood yet. Therefore, holders need to be ready for sideways price movements. SHIB’s current trend is neutral. SHIB can move in any direction.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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