TL;DR Breakdown
Shiba Inu price analysis is bearish today.Strong resistance at $0.00003402.Trading price of SHIB is $0.00002940.
Today’s Shiba Inu price analysis reveals a bearish movement in the market. Furthermore, the bears have found new strength in the resistance at the $0.00003000 mark that they have used to clench the market tighter. The odds seem to fall out of the bears’ favor. However, bulls are showing potential, but can they maintain it? As a result, the price of SHIB experienced massive depreciation and reached $0.00002808, from $0.00003216; on February 11, 2022, SHIB/USD continued a declining trend the following day.
Today, on January 13, 2022, the price has been experiencing massive fluctuations, causing the price of SHIB to increase slightly. As a result, SHIB/USD price has regained some value and reached $0.00002940. SHIB currently trades at $0.00002940. Shiba Inu has been up 7.52% over the previous 24 hours, with a trading volume of $1,508,214,728, ranking #14 with a live market capital of $16,770,941,066.
SHIB/USD 4-hour analysis: Latest developments
The Shiba Inu price analysis has revealed the market following a bearish trend as the market closes, forcing the resistance and the support to come closer, making the cryptocurrency’s price significantly less vulnerable to volatile change on either extreme. Consequently, the upper limit of the Bollinger’s band is present at $0.00003282, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002728, which acts as the strongest support for SHIB.
The SHIB/USD price appears to be crossing over the Moving Average curve, making the market bullish. The price has entered the bullish zone again, with much potential for further bullish activity. The price seems to be following an upward movement indicating an increasing market and potential to maintain this movement.
SHIB/USD 4-hour price chart source: TradingView
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 47, making SHIB/USD fall in the lower neutral region. However, the price follows a linear trend indicating stability and equivalence of the buying and selling activity.
Shiba Inu price analysis for 1-day: Bearish market
The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow an increasing trend, making Shiba Inu’s price more vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00003408, which serves as the strongest for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001590, which acts as the strongest support for SHIB.
The SHIB/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. On the other hand, the price seems to be following a linear activity, showing signs of consistency and possible conservation of the current campaign.
The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 56, signifying a stable cryptocurrency. Furthermore, the RSI falls in the upper neutral region. Therefore, following a slight linear approach is signaling towards stability and representing the selling activity equaling the buying activity, causing the RSI score to remain constant.
Shiba Inu Price Analysis Conclusion:
The Shiba Inu price analysis concludes that the cryptocurrency follows a bearish trend. However, Shiba Inu has shown promising dynamics for a reverse movement, but that will depend on the performance of the bulls. Furthermore, the bulls show exceptional momentum and might turn the table on bears soon.
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