SHIB Fails to Breakoutout of Consolidation Range
[ad_1]
Despite the listing on Robinhood, SHIB has lost most of its recent gains.
Key Support level: $0.000023
Key Resistance level: $0.000028
The rally last week, which was following the news, could not hold SHIB’s price above the key resistance at $0.000028.
Since then, SHIB has dropped back toward the critical support at $0.000023, where it found a local bottom. However, the overall price action is turning bearish despite some attempts from buyers to change this.
Technical Indicators
Trading Volume: The volume of the past days was low, without sufficient momentum to push SHIB away from its current range.
RSI: The daily RSI remains around the 50 points level, but this can quickly change if SHIB breaks below the critical support.
MACD: The daily MACD did a bullish cross during the news about Robinhood, but now it crossed back and turned bearish again.
Bias
The bias on SHIB is bearish.
Short-Term Prediction for SHIB Price
SHIB appears to be unable to leave the price range that it was trading at, back in March. Now, the price is quickly approaching the key support at $0.000023.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
[ad_2]
Source link