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Shiba Inu price analysis: SHIB/USD depreciates further from the $0.00002700 mark

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • The strongest resistance is present at $0.00004062.
  • The strongest support is present at $0.00002609.

The Shiba Inu price analysis shows the price of SHIB/USD maintaining a bearish trend over the last 48 hours. With the volatility on the rise again, the price is sure to undergo an increment or a further decline; the price struggles at the $0.00002700 mark after reaching the $0.00002677 mark on January 11, 2022. The market remains bearish, and the price remains somewhat stable, staying under the $0.00002700 mark. The current price of SHIB/USD is $0.00002677.

SHIB/USD 4-hour price analysis: Trend fluctuates steadily

The Shiba Inu price analysis has revealed market volatility following an increasing movement meaning the cryptocurrency’s price is becoming more prone to experience variable change on either extreme. The upper limit of the Bollinger’s band exists at $0.00002999, which acts as the strongest resistance for SHIB. The lower limit of the Bollinger’s band limit is available at $0.00002609, representing the strongest support for SHIB.

The SHIB/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish trend. The market recently shifted to a bearish trend, and they might maintain their position this time around. As the market’s volatility increases, the unpredictability of the market increases with it. The bears have taken advantage of the current state of the market and put it to good use. The SHIB/USD price appears to be moving upwards, indicating a trend shift in the next few days.

Shiba Inu price analysis: SHIB/USD depreciates further from the $0.00002700 mark 1
SHIB/USD 4-hours price charts source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 36, which means that cryptocurrency falls slightly on the undervalued side. The RSI appears to be following a downwards direction that reflects the value of the cryptocurrency experiencing a decline and moving aways from stability. The RSI’s downward movement is caused by the powerful selling activity, which is slowly and steadily depreciating the value of SHIB.

Shiba Inu price analysis for 1-day: The market maintains bearish momentum

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 $0.00004062, which acts as the strongest resistance for SHIB. The lower limit of the Bollinger’s band is available at $0.00002528, 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 favorable for bulls. We can see the price following a downwards movement, which may cause the price to cross under the lower li it of the Bollinger’s band, which may cause a breakout in the market, resulting in a trend shift.

Shiba Inu price analysis: SHIB/USD depreciates further from the $0.00002700 mark 2
SHIB/USD 1-day price chart source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 32, which means that Shiba Inu shows no signs of being undervalued. The RSI appears to be following a straightforward, stable approach that reflects the value remaining dormant, moving towards the neither extreme. 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 less potential for a market reversal. 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. 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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