Shiba Inu price analysis is bearish today.SHIB/USD finds support at $0.0000196.Shiba Inu currently trades for $0.00002728.
Shiba Inu price analysis predicts that SHIB/USD will be trading below the support at $0.0000196 in the next 24 hours, with a bearish momentum taking over its price throughout that time frame.
A rise to the resistance level of $0.00003542 is expected in the coming days, which is where Shiba Inu’s price is expected to find a balance and be relatively stable.
The price will find its next bottom at $0.00000728, where the 200 EMA currently is. A bounce from this support point could send the currency climbing up, back to its current resistance level of $0.00003542 or beyond that in the coming days.
Shiba Inu Price Analysis for 1-day: Bearish signals
The daily price analysis chart shows that the price is trading below its 20 day EMA, which acts as resistance. The RSI indicator also suggests bearish momentum pushing down on the price of Shiba Inu currently, with a reading of 47.04 indicating this possibility.
SHIB/USD 1-day price chart source: Trading view
The RSI is currently trading sideways ominously, testing the 50 levels. If it breaks below this resistance level, a move down to test the 200 day EMA at $0.00002728 could follow as predicted by Shiba Inu price analysis.
SHIB/USD 4-hour analysis: Support breaks as bears rise
Shiba Inu price peaked at $0.00004178 in early January, and since then, it has been a slow ride towards its current price point. SHIB/USD attempted to find stability above the support level at $0.0000189 for three weeks before finally succumbing to selling pressure taking over from those trying to accumulate cheap coins as prices went lower and lower with each day.
SHIB/USD 4-hour price chart source: Trading view
The Bollinger bands also indicate that the coin might be headed for a further selloff in the next 24 hours. The price peak indicator on the chart above is currently near $0.00004, suggesting that it will not take much effort to push this currency’s price towards its current bottom at $0.00002728 or even lower before buyers could come back in push it higher again.
Shiba Inu price analysis tells us that waiting out this period of volatility would be best, buying into SHIB/USD once the Bollinger bands tighten up signaling consolidation and support levels are found (and rejected) accordingly until an opportunity presents itself.
The price fell further, reaching the support level at $0.00002728, where it found support and bounced back up to retest the broken support level at $0.00003 as resistance. The daily momentum indicator is currently reading bearish, with a reading of -0.5739 on the 4-hour analysis chart confirming this prediction.
The RSI indicator shows that Shiba Inu is trading below 50 and could continue falling to find its next bottom at $0.00002728 within 24 hours or less considering current market conditions. A bounce from this support point could send the currency climbing up, back to its current resistance level of $0.00003542 or beyond that in the coming days.
Shiba Inu price analysis: Conclusion
Based on this analysis, which has been a compilation of our forecasts and indicator readings as well as a thorough review of the current market conditions, we conclude that SHIB/USD will be trading below $0.00003542 for most or all of today’s session and may even break below it to go down to its next bottom at $0.00002728 within 24 hours or less considering current market sentiment as per Shiba Inu price analysis.
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