SHIB/USD Coin Sideways at $0.0000060 – Triangle Pattern in Play

The SHIBA INU is trading near $0.00000633, with a 24-hour trading volume of $257,174,320. SHIBA INU has dropped by 2.61% in the past twenty-four hours. On the positive side, the multi-asset investment platform, eToro, has listed Shiba Inu (SHIB). The company argues that the decision came following substantial demand from customers. e-Toro was founded in 2006. It is an Israeli social trading and multi-asset brokerage company. It announced the listing of Shiba Inu (SHIB) in a recent press release shared via CryptoPotato.

The statement says that the decision was made, due to “strong customer demand.” This would provide customers with a “clearer understanding of the pricing in a regular, two-decimal-point format.” So, the positive development surrounding the SHIBA INU could help to limit deeper losses in its prices.

On the technical front, the SHIB/USD coin is trading sideways at the 0.0000063 level. On the 4-hour timeframe, the SHIB/USD coin has closed a symmetrical triangle pattern that is supporting the coin at $0.00000612. The downward trendline is likely to provide resistance at the $0.0000065 level.

On the lower side, a bearish breakout at the 0.00000612 level could trigger sharp selling until 0.00000576. Conversely, a breakout at the 0.0000065 level could lead the coin price towards the 0.0000069 resistance level. The MACD and RSI are neutral, as they are both tossing above and below the crossover levels. Let’s consider choppy trading until a breakout within the 0.0000065 to 0.0000061 range. Good luck!