Despite the bearish start to the year, news updates have been SHIB positive, supporting a run at February’s high and a return to $0.000050 levels.
SHIB/USD continued on a consistent movement with the start of Q2. In response to the Robinhood announcement, SHIB Price surged to hit $0.00002999 before retreating.
Shiba-Inu price Analysis
SHIB price trades in the long-term consolidation zone. At the time of writing the coin is trading at $0.00002584. The initial resistance level is currently present at $0.00002796, which is SHIB’s strongest point. SHIB would need the broader crypto market to support a breakout from Tuesday’s high of $0.00002999.
A resurgence in the buying momentum could push the price toward $0.00030. Thus, on a successful breakout from $0.00002999, another extended rally would test the Second Major Resistance Level at $0.0000344.
On the Flipside, A fall through the pivot would bring the First Major Support Level at $0.0000226 into play. Barring another extended sell-off, SHIB should steer clear of sub-$0.0000220 levels.
Overall, The market followed a partial bullish movement, showing consistent dynamics. Thus, the market offers massive room for bullish trends.
SHIB Price On the Verge Of Breakout
Shiba Inu could soon break beyond the $0.00002590 mark, according to a tweet from Bitcoinsensus.
“SHIBA is getting tighter and tighter inside this symmetrical triangle with higher lows and lower highs. It could break out from this range before the end of April.”
Another prominent analyst, With Twitter handle @AltcoinSherpa revealed that he is accumulating Shiba Inu tokens, buying through the recent consolidation in the Dogecoin-killer.
AMC’s App Accepts SHIB payments
Shiba Inu adoption increases; AMC Theatres has announced the acceptance of Dogecoin and Shiba Inu payments through its application.
AMC Theaters has added support for SHIB on its mobile application Within a few months of accepting crypto payments. The platform uses Bitpay to process its crypto transactions in the US.
Now users can spend DOGE and SHIB on tickets, concessions, and gift cards. AMC users can also buy tickets using Apple Pay, Google Pay, PayPal, and traditional payment options such as credit cards.
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Source: https://coinpedia.org/altcoin/shiba-inu-eyeing-massive-breakout/