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.
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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