Shiba Inu price analysis is bearish today.Strong resistance at $0.00003545.Trading price of SHIB is $0.00002548.
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 strengthen their control. The odds seem to fall out of the bears’ favor. As a result, the price of SHIB experienced massive depreciation and reached $0.00002713, from $0.00002895; on February 19, 2022, SHIB/USD continued a declining trend the following day.
Today, on January 20, 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 $0.00002548. SHIB currently trades at $0.00002548. Shiba Inu has been down 6.78% over the previous 24 hours, with a trading volume of $1,153,353,480, ranking #14 with a live market capital of $14,015,412,158.
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 close up, 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 $0.00003092, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002522, which acts as the strongest support for SHIB.
The SHIB/USD price appears to be crossing under the Moving Average curve, making the market bearish. Again, the price has maintained a bearish trend with much potential for further bearish activity. The price seems to be following a downward movement indicating a declining market and the potential to break the support and reverse the market.
SHIB/USD 4-hour price chart source: TradingView
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 27, making SHIB/USD fall in the undervalued region. However, the price follows a downwards trend indicating depreciation and dominant selling activity.
Shiba Inu price analysis for 1-day: Bears engulf the market
The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a declining trend, making Shiba Inu’s price less vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00003545, which serves as the strongest for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001983, 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 downward activity, showing signs of further depreciation and possible conservation of the current campaign.
SHIB/USD 1-day price chart source: TradingView
The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 43, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Therefore, following a massive downward approach signals depreciation and represents the selling activity exceeding the buying activity, causing the RSI score to decline.
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 reversal movement, but that will depend on the performance of the bulls. Furthermore, the bulls might take advantage of the current situation and take control.
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