Shiba Inu price analysis is bullish today.The strongest resistance is present at $0.00003524.Trading price of the Shiba Inu coin is $0.00003125.
The Shiba Inu price analysis reveals that the cryptocurrency has followed a head and shoulder movement in the last 72 hours. Through February 13, 2022, the movement started as a crash from $0.00003190 to $0.00003001. On the next day, the price on Valentine’s Day capped at $0.00002962, declining from the $0.00003074, which was the highest price on February 14, 2022.
On February 15, 2022, the price completes the head and shoulders pattern, remaining under the $0.00003150 mark; today’s highest reached $0.00003169. Soon after, the price declined and reached $0.00003125 while losing nominal value. SHIB currently trades at $0.00003125, with a trading volume of $1,679,522,205. SHIB has been up 4.15% in the last 24 hours. SHIB currently ranks #14 with a live market cap of $17,196,892,588, and a circulating supply of 549,063,278,876,302 SHIB coins.
SHIB/USD 4-hour analysis: Latest developments
The Shiba Inu price analysis has revealed the market following a solid bullish trend with increasing volatility, making the cryptocurrency’s price more vulnerable to volatile change. The upper limit of the Bollinger’s band is present at $0.00003153, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002788, 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. As a result, the bulls now have control of the market, as the cryptocurrency has experienced a bullish period for the last few hours, which we can observe from the price chart. The price appears to move upwards, which indicates an increasing market. The movement towards resistance could prove fatal for the bulls as the resistance holds power to change the game, for better or for worse.
SHIB/USD 4-hour price chart source: TradingView
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 57, making the Shiba Inu price fall in the stability zone, falling in the upper neutral region. However, the RSI score follows a linear path, signifying stability and a constant Shiba Inu market. Therefore, the dormant RSI score represents the equivalence of buying and selling activities.
Shiba Inu price analysis for 24-hours: Bullish domination
The Shiba Inu price analysis has revealed a bullish market. Moreover, the market’s volatility appears to follow an increasing trend, making Shiba Inu’s price more prone to volatile change. As a result, the upper limit of the Bollinger’s band is present at $0.00003524, which serves as the strongest resistance point for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001668, which acts as the strongest support point for SHIB.
The SHIB/USD price appears to cross over the curve of the Moving Average, signifying a bullish movement. In addition, the support and resistance bands seem to be opening the gap between them, indicating an opening market giving more room to the Shiba Inu price to move to either extreme. This shows that the bulls are eager to show consistency and raise the price of the meme cryptocurrency.
SHIB/USD 1-day price chart source: TradingView
The Relative Strength Index (RSI) score is 60, signifying cryptocurrency stability, and the RSI falls in the upper neutral zone. However, the RSI appears to be following an upwards trend pointing towards an increasing market. However, this might also indicate future inflation. The dominant buying activity signifies the rising RSI score.
Shiba Inu Price Analysis Conclusion
The Shiba Inu price analysis concludes that the cryptocurrency follows a stable bullish trend, with the bulls trying their best to maintain their potential and have succeeded in doing so. On the other hand, the cryptocurrency has gained more volatility, giving the Shiba Inu coin more room for activity on either extreme. However, that depends on how long the bulls can hold the market. The bulls appear to have a stronghold on the market; they might have made plans for a long-term regime.
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