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Shiba Inu price analysis: SHIB/USD oscillates near $0.00002900

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • The strongest resistance is present at $0.00004031.
  • The strongest support is present at $0.00002739.

The Shiba Inu price analysis shows the price of SHIB/USD maintaining a bearish trend over the past few days. With the volatility on the rise again, the price is sure to undergo an increment or a further decline; the price struggles at the $0.00002900 mark after reaching the $0.00002859 mark on January 10, 2022. The market remains bearish, and the price is somewhat stable, staying under the $0.00002900 mark. However, with fluctuations, this may not be the case. The current price of SHIB/USD is $0.00002859.

SHIB/USD 4-hour price analysis: Market closes volatility as trend shifts

The Shiba Inu price analysis has revealed market volatility following a decreasing movement meaning the cryptocurrency’s price is becoming less prone to experience variable change on either extreme. The upper limit of the Bollinger’s band exists at $0.00003005, which acts as the strongest resistance for SHIB. The lower limit of the Bollinger’s band limit is available at $0.00002739, representing the strongest support for SHIB.

The SHIB/USD price appears to be crossing over the curve of the Moving Average, signifying a bullish trend. The market recently shifted to a bullish trend, and they might maintain their stance this time around, and as the market’s volatility decreases, the trend shift becomes less probable. The bulls utilized their chance, seized the opportunity, and reclaimed the market. The SHIB/USD price appears to be moving upwards, indicating a strong bullish trend in the next few days.

Shiba Inu price analysis: SHIB/USD oscillates near $0.00002900 1
SHIB/USD 4-hour price chart source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 43, which means that cryptocurrency falls on neither the undervalued nor the overbought side. The RSI appears to be following an upwards approach that reflects the value of the cryptocurrency experiencing an increment and moving towards stability. The RSI’s upward movement is caused by the strong buying activity, which is slowly and steadily raising the value of SHIB.

Shiba Inu price analysis for 1-day: SHIB/USD shows bullish opportunities

The Shiba Inu price analysis shows market volatility following a slightly increasing direction. 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 is present at $0.00004031, which acts as the strongest resistance for SHIB. The lower limit of the Bollinger’s band is available at $0.00002661, representing the strongest support for SHIB.

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 increasing volatility, which may be advantageous for bulls. We can see the price following an upwards movement, which may cause the price to cross over the curve of the Moving Average, resulting in a trend shift.

Shiba Inu price analysis: SHIB/USD oscillates near $0.00002900 2
SHIB/USD 1-day price chart source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 36, which means that the meme cryptocurrency shows no signs of being undervalued. The RSI appears to be following an upwards approach that reflects the value moves towards stability. The buying activity outweighs the selling activity and, as a result, causes the RSI score to increase.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis concludes that the cryptocurrency follows a strong bearish trend. The cryptocurrency has shown the potential of a market reversal that may help regain value and increase the price. The volatility expands in Shiba Inu’s favor, and the bulls need to maintain their momentum if they want to engulf the market completely. The bears are fighting a losing battle, soon the bulls will control the market, and the price of SHIB will see better days.

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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