Terra Price Analysis

Shiba Inu Price Analysis: SHIB/USD set to surpass intraday highs of $0.00003441

TL;DR Breakdown

  • Shiba Inu price analysis appears to be bearish.
  • The strongest resistance is present at $0.00003951.
  • SHIB/USD is currently trading at $0.00003406.

The Shiba Inu price prediction has shown that meme cryptocurrency is continuing its established bullish trend, attempting to reach $0.00003450. In the last week, the value fluctuated between $0.00003305 and $0.00003627. On December 28, 2021, the price hit a peak of $0.00003717, only to plummet to $0.00003423 quickly after that. The devaluation ratio increased even more on the following day, causing the value to fall to $ 0.00003325; however, it later gradually rose and is now at $ 0.00007391 ).

The RSI appears to be reversing after reaching the oversold zone, indicating indecisiveness among traders. The MACD seems to be following a similar pattern to RSI after reaching extreme values on December 27. It now shows signs of moving upwards; however, it remains uncertain whether this is because of market reversal or an upcoming decrease.

For the short term, prediction for Shiba Inu (SHIB) Market Prediction assumes that there will be no significant change in prices and that the bearish trend may continue affecting Shiba Inu (SHIB) coin price prediction. The stochastic oscillator currently gives off signals indicating dropping prices within the next few days. These parameters indicate further devaluation so that the price may be hovering over $0.000034 later in the week. It would be advisable to wait for more positive signals before making any purchases because of the likelihood that prices may fall, which could result in potential losses.

The long-term Shiba Inu (SHIB) forecast assumes that this cryptocurrency is not a profitable investment option, and it might or might not have an impact on market prices in the future. The mid-range value of the stochastic oscillator predicts low chances of growth within 6 months period. Thus, investors should consider alternative cryptocurrencies instead if long-term plans are being set by investors targeting short-term gains.

SHIB/USD 4-hour price prediction: Possible comeback for the bulls

The SHIB/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish movement. Observations show that the market trend has been shifting at a fast rate. The trend has recently just moved from bullish to bearish.

Shiba Inu Price Analysis: SHIB/USD set to surpass intraday highs of $0.00003441 1

SHIB/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI), which measures the strength of a cryptocurrency by comparing its price to that of a standard, is 45. The RSI was declining up to this point, indicating a possible future rise in the SHIB/USD value.

The Fast Stochastic Oscillator consists of a previous closing price, the highest recorded value, and the lowest recorded value. This suggests that the market is experiencing some indecisiveness among traders.

Shiba Inu Price Analysis: Conclusion

Investing in Shiba Inu (SHIB) provides a chance to gain from the meme-based cryptocurrency as it is trending within an upward channel. The likelihood of this trend continuing for the foreseeable future is high, but only time will tell if investing during a bull period will be profitable. In addition, the market’s volatility may produce substantial short-term gains or losses since Bollinger Bands show extreme movements and the stochastic oscillator has not yet moved to a favorable position. Therefore, investors should wait for more positive signals before making any transactions with Shiba Inu (SHIB).

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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