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Shiba Inu price analysis: SHIB/USD shaky for $0.00003000

SHIB

TL;DR Breakdown

  • Shiba Inu price prediction is bearish for today.
  • The strongest support is available at $0.00002773.
  • The strongest resistance is present at $0.00003970.

The Shiba Inu price analysis shows the price of SHIB/USD significantly declining over the past few days. Now that volatility has gone dormant, and the price suffers from a decline again, the price struggles at the $0.00003000 mark after reaching the $0.00002971 mark on January 8, 2022. The market remains bearish, which could lead to further decline. However, with fluctuations, this may not be the case. The current price of SHIB/USD is $0.00002971.

SHIB/USD 4-hour price analysis: Hope for the bulls

The Shiba Inu price analysis has revealed market volatility following a dormant movement meaning the cryptocurrency’s price subject to change will remain constant until volatility fluctuates. The upper limit of the Bollinger band is present at $0.00003296, which acts as the strongest resistance. The lower limit of the Bollinger band limit is available at $0.00002773, representing the strongest support.

The SHIB/USD price appears to be crossing over the Moving Average curve, signifying a bullish trend. The market has remained bearish for the past few days, but as the market’s volatility increased, the trend has finally shifted. The bulls used the expanding volatility and seized the opportunity; now, all they have to do is maintain this momentum and grip the market firmly. They can bring the price of SHIB back to glory.

Shiba Inu price analysis: SHIB/USD shaky for $0.00003000 1
SHIB/USD 4-hour price chart source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 40, which means that cryptocurrency falls on neither the undervalued nor the overbought side. The bulls have captured the market, but maintaining this trend may be hard for them. The RSI appears to be following a slight upwards approach that reflects the value of the cryptocurrency slowly increasing and moving towards stability.

Shiba Inu price analysis for 1-day: Reverse trend imminent

The Shiba Inu price analysis shows market volatility following a slightly increasing movement. This means that SHIB/USD prices subject to fluctuations will experience variable change as the volatility shows signs of falling to either extreme. The upper limit of the Bollinger’s band exists at $0.00003970, which acts as the strongest resistance. The lower limit of the Bollinger’s band is available at $0.00002814, representing the strongest support. The support and resistance bands appear to be moving away in opposite directions, indicating expanding volatility.

The SHIB/USD price appears to be crossing under the Moving Average curve, indicating a bearish trend. This may change in the coming days due to the increasing volatility, which will likely be in the bulls’ favor. We may see a bullish Shiba Inu market soon. We can observe the price path following a downwards movement, which might result in a breakout. However, this is highly unlikely since the volatility expands; a reverse trend sounds more logical. This will signify a breakout in the market, indicating a future reverse trend.

Shiba Inu price analysis: SHIB/USD shaky for $0.00003000 2
SHIB/USD 1-day price chart source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 37, which means that the meme cryptocurrency shows no signs of being undervalued or overbought. The RSI appears to be following an upwards approach that reflects an increasing market trend as the value moves towards stability.

Shiba Inu Price Analysis Conclusion: Better days not so far away for SHIB

The Shiba Inu price analysis concludes that the cryptocurrency follows a strong bearish trend. The cryptocurrency has shown the potential of a reverse trend that may help regain value and increase the price. The volatility expands in Shiba Inu’s favor, and the bulls need to seize this opportunity and reclaim the market for the meme cryptocurrency.

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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