Following the Robinhood News, Here’s The Next Target for SHIB

Key Support stage: $0.000023

Key Resistance ranges: $0.000028

SHIB went by way of an enormous spike as soon as the information of it being listed on Robinhood broke out. Despite the 35% surge, the cryptocurrency shortly returned below the key resistance at $0.000028, failing to transform this information right into a sustained rally. The help at $0.000023 continues to carry since March.

SHIBUSDT_2022-04-16_17-08-12
Chart by TradingView

Technical Indicators

Trading Volume: The quantity exploded final Tuesday as the information broke out however couldn’t be sustained. The preliminary hype pale, and now the worth is again to its traditional ranges.

RSI: The each day RSI continues to hover round its mid-level level at 50. This signifies a flat development with out a lot path, regardless of a pointy try by patrons to take Shiba larger.

MACD: The each day MACD did a bullish cross throughout the information about Robinhood, however that appears to have been a deceptive sign as now the shifting averages seem near flipping bearish once more.

SHIBUSDT_2022-04-16_17-08-37
Chart by TradingView

Bias

The bias on SHIB is impartial.

Short-Term Prediction for SHIB Price

Even if SHIB has been listed on Robinhood, sustained demand is just not there but, and holders need to be ready for extra sideways worth motion. The present development is impartial, and SHIB’s worth can absorb both path from right here.

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Cryptocurrency charts by TradingView.


https://cryptopotato.com/shiba-inu-price-analysis-following-the-robinhood-news-heres-the-next-target-for-shib/

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About the Author: Daniel