Shiba Inu (SHIB) is currently moving sideways in a tight range between $0.000028-$0.00004. At the time of writing, Shiba Inu was trading at $0.00003088, up from Jan. 5 market selloff lows of $0.000028. AMC CEO Adam Aron has taken to Twitter to announce that the AMC theater chain will “most likely” add support for Shiba Inu this March. In a fresh listing, an Indian crypto exchange with U.S. customers Koinbazar has announced that it is launching trading for SHIB/USDT pair on its platform. In late 2021, Shiba Inu saw a flurry of listings by multiple exchanges in various countries. Among them were Gemini, Kraken, CoinDCX, Bit2Me, South Korean Korbit, and Singapore-based Coinhako. Now, the SHIB community anticipates Robinhood to list Shiba Inu as well, a petition regarding this has crossed 554,787 signatures.
Key Levels
Resistance Levels: $0.00004491, $0.00004000, $0.00003535
Support Levels: $0.00002826, $0.00002700, $0.00002510
SHIB/USD Daily ChartShiba Inu is posting a rebound, currently at $0.00003088, up 3.88% on the daily chart. SHIB continues to move sideways in a tight range with the upper boundary at $0.00004 and the lower boundary at $0.000028. The price is still developing within the MA 50 and 200 at $0.000037 and $0.000022 respectively.
If the price overcomes the MA 50 and the $0.00004 key level, the next target for the bulls could be the $0.000054 barrier and the $0.000065 levels. On the flip side, a daily close beneath the $0.000028 psychological mark could add more pressure to the downside, hitting $0.000022 and the MA 200.
SHIB/USD 4-Hour ChartShiba Inu recorded a bounce up in late December, but The price stalled ahead of the $0.00004 level. Due to the recent market selloff, the price is hovering beneath the negative crossover of the MA 50 and 200 in the 4-hour chart. The bias is looking neutral, though slightly bearish as the RSI flatlines near the 50-neutral level.
Should the SHIB/USD pair pare some of the previous session losses, it may meet the barrier at the MA 50 and 200 at $0.000033 and $0.000034, respectively. If the current recovery fails to hold and prices turn lower again, the $0.000028 level could be the immediate support next. Shiba Inu remains in a range, and traders might as well watch out for the general market trend as this may spell SHIB’s next price movement.
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