Shiba Inu price analysis: SHIB/USD retraces back to the $0.00002900 mark

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • The strongest suuport is present at $0.00002633.
  • The strongest resistance is present at $0.00003878.

The Shiba Inu price analysis shows the price of SHIB/USD maintaining a bearish trend over the last 48 hours. With the volatility declining, the price is less prone to experience increment or a further decline; the price climbs smoothly at the $0.00002900 mark after reaching the $0.00002863 mark on January 12, 2022. The market remains bearish but shows promising bullish potential, and the price remains somewhat stable, staying under the $0.00002900 mark. However, the price is expected to rise to the $0.00002950 mark before February. The current price of SHIB/USD is $0.00002863.

SHIB/USD 4-hour price analysis: Market shows strong bullish potential

The Shiba Inu price analysis has revealed market volatility following an increasing movement meaning the cryptocurrency’s price subject to change is becoming more volatile and may experience an increment or a decrement soon. The upper limit of the Bollinger’s band exists at $0.00002920, which acts as the strongest resistance for SHIB. The lower limit of the Bollinger’s band limit is available at $0.00002633, 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 from a bearish trend, and the bulls might maintain their stance and engulf the market this time around. As the market’s volatility increases, the unpredictability of the market increases with it. The bulls 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 future breakout in the market, causing a reverse trend again.

Shiba Inu price analysis: SHIB/USD retraces back to the $0.00002900 mark 1
SHIB/USD 4-hours price chart source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 53, meaning that cryptocurrency falls neither undervalued nor overbought. The RSI appears to be following an upwards direction that reflects the value of the cryptocurrency experiencing an increment and moving towards the overbought category. The RSI’s massive upwards movement is caused by the powerful buying activity, which is slowly and steadily appreciating the value of SHIB.

Shiba Inu price analysis for 1-day: SHIB moves towards bullish dynamics

The Shiba Inu price analysis shows market volatility following a slightly decreasing direction. This means that SHIB/USD prices subject to fluctuations will experience less variable change as the volatility shows no signs of falling to either extreme. The upper limit of the Bollinger’s band is present at $0.00003978, which acts as the strongest resistance for SHIB. The lower limit of the Bollinger’s band is available at $0.00002520, representing the strongest support for SHIB.

The SHIB/USD price appears to be crossing under the Moving Average curve, indicating a bearish trend. We can see the price following an upwards movement, which may cause the price to cross over the Moving Average curve, switching the trend and changing the market dynamics. The volatility has proven favorable for the bulls; let’s hope they can keep up this momentum.

Shiba Inu price analysis: SHIB/USD retraces back to the $0.00002900 mark 2
SHIB/USD 1-day price chart source: Trading view

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 38, which means that Shiba Inu shows no signs of being undervalued or overbought. The RSI appears to be following a strong upwards approach that reflects the value of Shiba Inu increasing, moving 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 rocky bearish trend. The cryptocurrency has shown massive potential for a market reversal. The volatility declines as the trend shifts in the bulls’ favor, and the bulls need to maintain their momentum if they want to engulf the market. The bears are fighting a losing battle, and soon the bulls will control 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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