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Shiba Inu price analysis: SHIB falls below $0.00003380

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis appears to be bearish.
  • The strongest resistance is present at $0.00003926.
  • The strongest support is present at $0.00003315.

The Shiba Inu price analysis indicates the meme cryptocurrencys’ market reveals that the cryptocurrency market has undergone insignificant changes over the past few days. The price remains stable for the most part with little flexibility; the price has dropped from the $0.00003380 mark after reaching $0.00003364 on January 3, 2022. The market remains bearish, which may result in further devaluation. The current price of SHIB/USD is $ 0.00003364.

SHIB/USD 4-hour price analysis: Market maintains stable volatility as bears take control

Shiba Inu price analysis has revealed market volatility to be following a quiet trend which means the price of a cryptocurrency is less likely to meet volatility. The upper limit of the Bollinger Band is present at $0.00003447, which acts as the strongest resistance. The lower limit for the Bollinger Band is available at $0.00003315, which represents the strongest support.

The resistance band of the support band seems to be very close, which shows the congestion in the market. This could indicate that market turmoil will erupt soon, giving bulls the opportunity to retake 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 little chance to counter their defense.

Shiba Inu price analysis: SHIB falls below $0.00003380 1
SHIB/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) is 43, which means that cryptocurrency does not fall into the undervalued or over-bought category. The RSI can be seen to follow a straightforward, stable approach that reflects a steady market trend and a small chance of reversal.

Shiba Inu price analysis for 1-day: SHIB/USD suffers a bearish as the market tightens

The Shiba Inu price analysis shows market volatility following a quiet trend, not falling on the rising side or the downside. This means that the SHIB/USD price opportunities subject to fluctuations remain constant. The upper limit of the Bollinger Band is present at $0.00003926, which acts as the strongest resistance. The lower limit for the Bollinger Band is available at $0.00002941, which represents the strongest support.

The support band and resistance band seem very close, which shows that the market is squeezing. This means that market volatility is likely to erupt soon, giving bulls the opportunity to return and seek a market.

The SHIB/USD price appears to be crossing under the Moving Average curve, indicating a strong bearish trend. The market remains bearish, with low volatility leading to a strong bearish trend being maintained. This can only change if the volatility increases and the bulls take advantage.

Shiba Inu price analysis: SHIB falls below $0.00003380 2
SHIB/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) has 44, which means that the meme cryptocurrency does not show signs of falling into a low-value or over-bought category. RSI can be seen following a precise, stable movement that reflects a steady market trend and a slight chance of a return.

Shiba Inu Price Analysis Conclusion: Bears maintain their control

The conclusion of the Shiba Inu price analysis shows that the current behavior of the meme cryptocurrency indicates that it is following a stable bearish trend that is unlikely to reverse soon. SHIB/USD lost a lot while its recent rise in the $0.00003380 mark; price reached $0.00003364 on January 3, 2022; however, the price has not increased since then. The SHIB market is stuck in a loop.

Focus shows a recurring decline, but that depends on market volatility, which should grow to give bulls a chance to fight. If not, the bears will continue to dominate them.

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.

Narmin

Narmin

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

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