TL;DR Breakdown
Shiba Inu price analysis is bearish today.Strong resistance at $0.00003522.Trading price of SHIB is $0.00002588.
Today’s Shiba Inu price analysis reveals a bearish movement in the market. However, 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 $0.00002534; on February 20, 2022, SHIB/USD continued a declining trend the following day.
Today, on February 21, 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 $0.00002588. SHIB currently trades at $0.00002548. Shiba Inu has been up 1.04% over the previous 24 hours, with a trading volume of $1,353,489,383, ranking #14 with a live market capital of $14,207,716,629.
SHIB/USD 4-hour analysis: Latest developments
The Shiba Inu price analysis revealed the market following a bearish trend as the market volatility remains constant, forcing the resistance and the support to close up, making the cryptocurrency’s price stable until the volatility fluctuates. Consequently, the upper limit of the Bollinger’s band is present at $0.00002974, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002475, 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 a new bullish movement. The price seems to be following an upwards movement indicating an increasing 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 38, 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: Market closes
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 $0.00003522, which serves as the strongest for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002047, 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 44, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region, but following a slight upwards approach signals increment and represents the buying activity exceeding the selling activity, causing the RSI score to increase.
Shiba Inu Price Analysis Conclusion:
The Shiba Inu price analysis reveals the market following bearish movement, as the market shows potential for a reversal. The bears currently dominate the market and are fighting hard to maintain their control, but the bulls are not coming slowly either; the next 48 hours will decide the fate of the Shiba Inu Coin.
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