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Shiba Inu price analysis: Bears dominating the SHIB market at $0.00003381

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis appears to be bearish.
  • The srongest resistance is present at $0.00003926.
  • The strongest support is present at $0.00003318.

The Shiba Inu price prediction for January 2, 2022, reveals that the meme cryptocurrencys’ market has experienced very insignificant changes in the past few days. The price has remained stable for the most part with minor fluctuations; the price recoiled away from the $0.00003400 mark after reaching $0.00003393 on January 1, 2022. The price has remained more or less the same. The current price of SHIB/USD is $0.00003383.

SHIB/USD 4-hour price analysis: Market enters a squeeze

The Shiba Inu price analysis has revealed the market’s volatility following a declining trend meaning that the price of the meme cryptocurrencys’ price is less likely to experience variable change. The upper limit of the Bollinger’s band is present at $0.00003449, which serves as the strongest resistance. The lower limit of the Bollinger’s band is present at $0.00003318, which represents the strongest support.

The resistance band and the support band appear to be very near each other signifying a squeeze in the market. This may indicate that the market volatility will soon explode, which will give the bulls the chance to reclaim their throne.

The SHIB/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish trend. The bears control the market giving the bulls no chance to counter their defense.

Shiba Inu price analysis: Bears dominating the SHIB market at $0.00003381 1
SHIB/USD 4-hour price chart source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 44, which means that the meme cryptocurrency falls neither on the undervalued category nor the overbought category. The RSI can be seen following a straight, steady path indicating a stable trend of the market, with little chance of a reverse movement.

Shiba Inu price analysis for 1-day: Bears maintain steady momentum

The Shiba Inu price analysis reveals the market’s volatility following a dormant trend, falling neither on the increasing side nor the decreasing side. This means that the probability of the SHIB/USD price experiencing variable change remains unchanged. The upper limit of the Bollinger’s band is present at $0.00003926, which serves as the strongest resistance. The lower limit of the Bollinger’s band is present at $0.00002942, which represents the strongest support.

The support band and the resistance band appear to be very near each other indicating the market to be in a squeeze. This signifies that the market volatility will hopefully soon explode, which will give the bulls the chance to make a comeback and claim the market.

The SHIB/USD price appears to be crossing under the curve of the Moving Average, indicating a strong bearish trend. The market has remained bearish, with low volatility pointing towards a strong bearish trend being maintained. This can only change if the volatility skyrockets and the bulls take advantage of it.

Shiba Inu price analysis: Bears dominating the SHIB market at $0.00003381 2
SHIB/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) is 44, which signifies that the meme cryptocurrency shows no sign of falling on the undervalued category or the overbought class. The RSI can be seen following a straight, steady movement indicating a stable trend of the market, with little chance of a reverse direction.

Shiba Inu Price Analysis Conclusion: Bears remain the champions

The conclusion of the Shiba Inu price analysis shows that the current behavior of the meme cryptocurrency shows that it is following a stable bearish trend with the possibility of a reverse movement very soon. SHIB/USD has suffered severe devaluation following its recent climb to the $0.00003400 mark; the price reached $0.00003393 on January 1, 2022; however, the price has not gone up since. The SHIB market is stuck in a loop.

Observations indicate a reverse trend very soon, but that depends on the market volatility, which has to increase to give the bulls a fighting chance. Otherwise, the bears will keep ruling over them.

Disclaimer. The information provided is n t 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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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