Shiba Inu price analysis is bearish today.Strong resistance at $0.00002772.Trading price of SHIB is $0.00002435.
Today’s Shiba Inu price analysis reveals an uncertain bearish movement in the market, and the market moves towards a positive direction, raising the price of SHIB significantly. However, the cost of SHIB experienced a value decline and reached $0.00002266, from $0.00002339; on March 8, 2022, SHIB/USD gained momentum and attained an increasing movement the following day.
Today, on March 9, 2022, the price has been experiencing massive ups, causing the price of SHIB to move up to the $0.00002435 mark. Furthermore, the cryptocurrency shows upside potential and is following an upward trend, which means it will reach its goal sooner than expected. SHIB currently trades at $13,435,295,976.
SHIB/USD 4-hour analysis: Recent developments
The Shiba Inu price analysis revealed the market following a solid bullish trend as the market volatility increases as the market opens up, forcing the resistance and the support to move further away from each other, making the cryptocurrency’s price will remain stable until the volatility fluctuates, as of now, it is getting more susceptible to volatile change of either exchange. Consequently, the upper limit of the Bollinger’s band is present at $0.00002444, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002238, 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 upwards, almost meeting the resistance. If the price and resistance meet, it will break the market and reverse the market trend.
SHIB/USD 4-hour price chart source: TradingView
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 57, making SHIB/USD fall in the upper neutral region. However, the price follows a linear trend indicating a stable market and equivalence of buying and selling activity. Furthermore, the RSI score indicates possible stability, which will cause the SHIB/USD cost to remain constant.
Shiba Inu price analysis for 1-day: Market squeezes
The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a massive 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 $0.00002772, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002201, 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, and conserving the current trend.
SHIB/USD 1-day price chart source: TradingView
The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 46, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Therefore, following a linear approach signals stability and represents the buying activity outweighing the selling activity, causing the RSI score to increase.
Shiba Inu Price Analysis Conclusion
The Shiba Inu price analysis reveals the market following an uncertain bearish movement, showing room for future bullish possibilities. The bears currently dominate the market and are likely to be taken out of the picture in the coming days. As a result, the market offers massive room for further upside activity, which could stabilize DOGE and regain its lost value.
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