Shiba Inu price analysis is bearish today.Strong resistance at $0.00002672.Trading price of SHIB is $0.00002184.
Today’s Shiba Inu price analysis reveals a shaky 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 value depreciation and reached $0.00002132, from $0.00002211; on March 15, 2022, SHIB/USD shifted to an increasing movement the following day.
Today, on March 16, 2022, the price has been experiencing massive ups, causing the price of SHIB to move up to the $0.00002184 mark. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. SHIB currently trades at $0.00002184; as a result, Shiba Inu has been up 1.48% over the previous 24 hours, with a trading volume of $640,875,045, ranking #15 with a live market capital of $11,983,343,814
SHIB/USD 4-hour analysis: Recent developments
The Shiba Inu price analysis revealed the market entering a bullish trend as the market volatility remains dormant, forcing the resistance and the support to stand their ground; now, the price will follow the volatility to whichever extreme it decides. Consequently, the upper limit of the Bollinger’s band is present at $0.00002251, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002125, 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, indicating an increasing market. The market follows a positive trend, leading to grand expectations from bulls in the coming days as they gain momentum thoroughly.
SHIB/USD 4-hour price chart source: TradingView
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 46, making SHIB/USD fall in the lower neutral region. However, the price follows an upward trend indicating an increasing market and dominance of buying activity.
Shiba Inu price analysis for 1-day: Market displays bullish potential
The Shiba Inu price analysis has revealed a bearish 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 $0.00002672, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002046, 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 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 to be 40, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Following an upward approach, signals increasing movement 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, showing massive bullish possibilities. The bears currently dominate the market and are likely to be taken out of the picture by bulls. As a result, the market offers massive room for a reversal, leading to a bullish future. It seems that the cryptocurrency is moving towards a bullish era, which will prove to be the best-case scenario for Shiba Inu.
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