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Shiba Inu price analysis: SHIB/USD barely making past the $0.00003260 mark

SHIB

TL;DR Breakdown

  • Shiba Inu price prediction appears to be bearish.
  • The strongest resistance is present at $0.00003924.
  • The strongest support is present at $0.00003236.

The Shiba Inu price analysis shows that the cryptocurrency market reveals the meme cryptocurrency has undergone a significant decline over the past few days. With increasing flexibility, the price has suffered devaluation again; the price dropped from the $0.00003280 mark after reaching $0.00003367 on January 5, 2022. The market remains bearish, which could lead to further declines. However, with increasing volatility, this may not be the case. The current price of SHIB/USD is $0.00003364.

SHIB/USD 4-hour price analysis: Market volatility increases, trend shift possible

The Shiba Inu price analysis has revealed market volatility following a positive trend which means the price of the cryptocurrency is likely to meet the volatility and experience variable change. The resistance band of the support band appears to be moving further from each other, indicating increasing volatility. The upper limit of the Bollinger band exists at $0.00003453, which acts as the strongest resistance. The lower limit of the Bollinger band limit is available at $0.00003283, representing the strongest support.

The SHIB/USD price appears to be below the Moving Average curve, indicating a bearish trend. The market has remained bearish for the past few days, but as the volatility of the market increases, it also gives bulls a fighting chance against the bears. The market might be in their hands soon if they play their cards right.

Shiba Inu price analysis: SHIB/USD barely making past the $0.00003260 mark 1
SHIB/USD 4-hour price chart source: Trading view

The Shiba Inu price analysis shows that the Relative Strength Index (RSI) is 37, which means that cryptocurrency falls into the category of undervalued stocks. The RSI can be seen following an upwards approach that reflects the value of the cryptocurrency slowly attaining stability as the price goes up.

Shiba Inu price analysis for 1-day: SHIB/USD tries for a more volatile market

The Shiba Inu price analysis shows market volatility following a quiet trend, not falling on the rising side or the downside. This means that SHIB/USD prices will remain constant until the volatility starts to fluctuate. The upper limit of the Bollinger band exists at $0.00003924, which acts as the strongest resistance. The lower limit of the Bollinger band is available at $0.00002921, representing the strongest support.

The support and resistance bands seem very close, indicating that the market is tight, showing a squeeze. This means that market volatility is likely to arise soon, giving bulls the opportunity to return to the 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. This can only change if the volatility increases and the bulls take advantage; this may be a likely scenario for the coming days.

Shiba Inu price analysis: SHIB/USD barely making past the $0.00003260 mark 2
SHIB/USD 1-day price chart source: Trading view

The Shiba Inu price analysis shows that the Relative Strength Index (RSI) is 42, which means that the cryptocurrency meme shows no signs of falling into the low or over-bought category. The RSI can be seen following a slight upwards movement that reflects a growing market trend and a small chance of recovery.

Shiba Inu Price Prediction Conclusion: Bulls attempting to bounce back

The conclusion of the Shiba Inu price analysis shows that the current cryptocurrency behavior indicates that it is following a strong bearish trend that might back down soon. SHIB/USD lost a lot during its recent rise to the $0.00003280 mark; price reached $0.00003277 on January 4, 2022; however, the price has been decreasing since then, the current price of Shiba Inu is present at $0.00003261. SHIB Market remains bearish, but the bulls are trying to make a comeback and reclaim the market.

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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