Shiba Inu (SHIB) briefly lost the key $0.00001000 level on Oct. 21, as it dipped to a low of $0.00000960. At the time of publication, SHIB was changing hands at $0.00001000, down 1.93% in the last 24 hours. SHIB may be gaining traction in the mountainous Central European country of Switzerland, as top Swiss cryptocurrency platform Swissborg announced SHIB listing on its official Twitter account on Wednesday. The platform, which operates a hybrid cryptocurrency service for its large user base, revealed that the decision to list SHIB was incited by its growing community. It appears there have been massive demands for SHIB on its platform. Meanwhile, SHIB has been garnering public attention of late. Reports of the Swissborg listing came less than two weeks after Seychelles-based cryptocurrency exchange BitMEX announced plans to list the asset.
Key Levels
Resistance Levels: $0.00001500, $0.00001300, $0.00001200
Support Levels: $0.00001000, $0.00000944, $0.00000872
SHIB/USD Daily ChartSince the beginning of the week, Shiba Inu (SHIB) has been trading sideways beneath the MA 50 ($0.00001120). The lack of a rebound past the MA 50, however, suggests that the bulls are not in a hurry to buy at the current prices. The traction towards the MA 50 may provide additional guidance regarding the potential next move.
The likelihood of a dip back into the lows and a retest of yearly support at $0.00000713 might increase in the event of a feeble rebound. If the price of SHIB/USD continues its journey below the daily MA 50, it might return to the next support at $0.00000872. The bears are seeking to grab the upper hand, as seen by the RSI, which is just below the midpoint. On the other hand, SHIB bulls will prevail if there is a significant bounce past MA 50.
Shiba Inu (SHIB) is having a difficult time keeping above the 4-hour MA 50 at $0.00001020. SHIB could gradually begin to decline to the support at $0.00000944 and then to $0.00000872 if the bears drive the SHIB price lower from MA 50. Given that the 4-hour RSI is slightly below the midpoint, range-bound activity may be conceivable.
If that occurs, the SHIB/USD pair might be locked for a few more days in the $0.00000944–$0.0000100 area. On the other hand, if SHIB rallies past the MA 50 to break over the MA 200 resistance ceiling at $0.00001080, this neutral-to-negative perspective will be rendered meaningless. A rise to $0.00001200 and $0.00001300 may be anticipated in this situation.
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