Shiba Inu price analysis is bullish today.Strong resistance at $0.00002643.Trading price of SHIB is $0.00002235.
Today’s Shiba Inu price analysis reveals a continued bullish movement in the market, and the market moves towards a positive direction, raising the price of SHIB significantly. As a result, the cost of SHIB experienced a tremendous value increment and reached $0.00002258, from $0.00002162; on March 18, 2022, SHIB/USD shifted to an increasing movement the following day. As a result, the market has followed a head and shoulder movement in the past 72 hours.
Today, on March 19, 2022, the price has been experiencing massive ups and downs, causing the price of SHIB to move up to the $0.00002261 mark just before declining slightly to $0.00002235. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. SHIB currently trades at $0.00002235; as a result, Shiba Inu has been up 2.49% over the previous 24 hours, with a trading volume of $685,202,665, ranking #15 with a live market capital of $12,288,326,099.
SHIB/USD 4-hour analysis: Recent developments
The Shiba Inu price analysis revealed the market is following a bullish trend as the market volatility slightly decreases, forcing the resistance and the support to move toward each other; now, the price will follow the volatility to whichever extreme it decides, for now, the price is becoming less prone to volatile change. Consequently, the upper limit of the Bollinger’s band is present at $0.00002279, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002163, 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. Moreover, the price seems to move linearly, indicating a consistent market.
SHIB/USD 4-hour price chart source: TradingView
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 53 making SHIB/USD fall in the upper neutral region. However, the price follows a linear trend indicating a constant market and equivalence of selling and buying activity.
Shiba Inu price analysis for 1-day: Market attains consistency
The Shiba Inu price analysis has revealed a bullish market. Moreover, the market’s volatility appears to follow a slightly 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 $0.00002643, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002025, which acts as the strongest support for SHIB.
The SHIB/USD price appears to cross over the curve of the Moving Average, signifying a bullish movement. On the other hand, the price seems to be following an upward activity, showing signs of an increasing market.
SHIB/USD 1-day price chart source: TradingView
The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 43, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Therefore, following a straightforward approach signals a dormant market and represents the selling activity equalling the buying activity, causing the RSI score to decrease.
Shiba Inu Price Analysis Conclusion
The Shiba Inu price analysis reveals the market following bullish movement, showing further bullish opportunities. As a result, the market offers massive room for increment in the value of SHIB, leading to a bullish future. However, since the market shows dormant characteristics, it’s not easy to predict which way the market might shift.
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