Shiba Inu (SHIB) is up 8% in the last 24 hours at a present price of $0.0000257. The entire cryptocurrency market is posting a recovery on the last day of February. Shiba Inu token has made an entrant into the fashion world in a collaboration with John Richmond designer wear. The upcoming ramp walks would soon feature SHIB and John Richmond-themed collections in a cutting-edge fashion collaboration. Also, the partnership suggests 10,000 John Richmond and Shiba Inu NFTs will soon be released. AMC Theaters CEO has announced the company will officially begin accepting Shiba Inu for online payment by Mar. 19 via BitPay. Shiba Inu is also expected to go live on the AMC mobile app by April 16.
Key Levels
Resistance Levels: $0.00003535, $0.00003250, $0.00002740
Support Levels: $0.00002300, $0.00002071, $0.00001866
SHIB/USD Daily ChartSHIB has been trading sideways during February with an upper boundary at the $0.0000352 barrier and the $0.000020 support. SHIB has been slightly declined since Feb. 17 but managed to find significant support at the $0.000020 on Feb. 24. Since then, the SHIB/USD pair has consolidated its rebound.
Should SHIB price continue its ascent in the coming sessions, the next barrier could be met at the MA 50 and 200 at $0.000026 and $0.0000279. Clearing this hurdle would reinforce the resumption of the short-term uptrend, setting the stage for the $0.000035 level. Higher up, the price rally might encounter the next barrier at the $0.000035 and $0.000039 levels.
SHIB/USD 4-Hour ChartSHIB steadily rose from the $0.0000228 over the last 4 hour sessions before finding a barrier at $0.0000254 high. On the upside, a retest of the short-term moving average (MA 200) around $0.0000258 might be possible before testing highs around $0.0000273. Another barrier remains at $0.000032.
At this point in the rebound, a mild consolidation might be expected as the short-term relative strength index (RSI) has flattened slightly above the 50 neutral levels. The moving averages (MA 50 and MA 200) are positing a negative demeanor although the forces of consolidation are likely to prevail. On the downside, support is envisaged at $0.0000230 and then at $0.0000207.
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