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Shiba Inu price analysis: SHIB/USD suffers bearish movement at $0.00002960

SHIB

TL;DR Breakdown

  • The Shiba Inu price analysis for today is bearish.
  • The strongest resistance is present at $0.00003950.
  • The strongest support is present at $0.00002975,

The Shiba Inu price prediction shows that the meme cryptocurrency has undergone a significant decline over the past few days. With increasing flexibility, the price suffers from devaluation again; the price dropped from the $0.00003000 mark after reaching $0.00003018 on January 6, 2022. The market remains bearish, which could lead to further decline. However, with increasing volatility, this may not be the case. The current price of SHIB/USD is $0.00002961.

SHIB/USD 4-hour price analysis: Shiba Inu expands volatility as bears grip tighter

The Shiba Inu price analysis has revealed market volatility following an expanding trend which means the price of the cryptocurrency is becoming more exposed to undergoing variable change. The resistance band and the support band appear to be moving further from each other, indicating increasing volatility. The upper limit of the Bollinger band exists at $0.00003516, which acts as the strongest resistance. The lower limit of the Bollinger band limit is available at $0.00002975, representing another point of resistance rather than the support.

The SHIB/USD price appears to be crossing under the lower limit of Bollinger’s band, indicating a breakout happening in the market. This may result in severe devaluation followed by a reverse trend in the market.

The SHIB/USD price appears to be crossing under 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 increased, we had hoped for a trend shift sooner. Still, as the volatility has expanded to a massive degree, the odds are in the bulls’ favor. It 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 suffers bearish movement at $0.00002960 1
SHIB/USD 4-hour price chart source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 23, which means that cryptocurrency is heavily undervalued as of now. The bears have clenched the market, but maintaining such a strong trend may be hard for them. A reverse movement is very likely. The RSI can be seen following an upwards approach that reflects the value of the cryptocurrency slowly attaining increment in its value.

Shiba Inu price analysis for 1-day: The market remains in a squeeze

The Shiba Inu price analysis shows market volatility following a quiet trend, not showing signs on either extreme. This means that SHIB/USD prices subject to fluctuations will remain constant until the volatility shows signs of increase or decrease. The upper limit of the Bollinger band exists at $0.00003950, which acts as the strongest resistance. The lower limit of the Bollinger band is available at $0.00002858, representing the strongest support.

The support and resistance bands appear to be near each other, indicating that the market is tight, showing a squeeze. This means that market volatility is likely to expand soon, allowing bulls to capture 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 may change in the coming days as all the observations from the carts show signs of a reversal in the market.

Shiba Inu price analysis: SHIB/USD suffers bearish movement at $0.00002960 2
SHIB/USD 1-day price chart source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 35, which means that the meme cryptocurrency shows signs of being undervalued. The RSI can be seen following a downwards movement that reflects a declining market trend and small chances of recovery.

Shiba Inu Price Analysis Conclusion: Bulls trying for a comeback

The Shiba Inu price analysis concludes that the current cryptocurrency behavior indicates that it is following a strong bearish trend that might reverse soon. SHIB/USD lost a lot during its recent rise to the $0.00003100 mark; price reached $0.00003057 on January 6, 2022; however, the price has been struggling even for the $0.00003000 mark now. The price has been on a decline ever since then. The current price of Shiba Inu is $0.00003263. SHIB Market remains bearish, but chart analysis and all the signs observed indicate a reversal trend soon.

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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