logo

Shiba Inu price analysis: SHIB/USD fluctuates strongly at the $0.00002900 mark

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • The strongest resistance is present at $0/00003508.
  • The strongest support is present at $0.00002830.

Today’s Shiba Inu price analysis reveals a severe fluctuating movement in the market, with the bears just entering after being overpowered by the bulls again, reversing the previous trend of the market. Following yesterday’s direction, the price of SHIB experienced a flash crash and reached $0.00002935, from $0.00003035. On January 17, 2022, the price maintained a declining trend.

Today, on January 18, 2022, the price has been experiencing severe ups and downs, causing the price of SHIB to fluctuate immensely. As a result, SHIB/USD price has dropped to $0.00002893 while losing a significant amount of its original value. SHIB currently trades at $0.00002893. Shiba Inu has been down 2.25% in the last 24 hours, with a trading volume of $701,670,921.

SHIB/USD 4-hour analysis: Latest developments

The Shiba Inu price analysis has revealed the market following a bearish trend with the volatility opening its doors to new possibilities, making the cryptocurrency’s price more vulnerable to change on either extreme. Consequently, the upper limit of the Bollinger’s band is present at $0.00003184, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002830, which acts as the most substantial support for SHIB.

The support and resistance band appears to be opening up, indicating the market volatility is expanding. The SHIB price broke the support yesterday, which caused a breakout in the market and established a new resistance for the cryptocurrency. Although the breakout resulted in a reversal in the market, bulls could not maintain their momentum and were overpowered by the bears.

The SHIB/USD price appears to be crossing under the Moving Average curve, making the market bearish. The price has entered the bearish zone with no telling whether the bears will be able to carry on with it, but now it seems they will remain on the throne for a while. In the last few hours, the Shiba Inu market has experienced fluctuations between bearish and bullish trends. It has finally decided on entering the bear’s territory.

Shiba Inu price analysis: SHIB/USD fluctuates strongly at the $0.00002900 mark 1
SHIB/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) score is 39, making the cryptocurrency fall right under the lower neutral zone, showing slight signs of devaluation. However, the buying activity has increased slightly, causing the RSI score to follow an increasing movement.

Shiba Inu Price Analysis for 1-day: Market becomes dormant

The Shiba Inu price analysis has revealed a bearish market with the potential to maintain it. Moreover, the market’s volatility appears to follow a dormant trend, making Shiba Inu’s price constant until the volatility fluctuates. As a result, the upper limit of the Bollinger’s band is present at $0.00003508, which serves as the most substantial resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002616, which acts as the strongest support for SHIB.

The SHIB/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. The price seems to be following a declining activity, indicating that it will soon meet the support. The support and resistance bands appear to be maintaining their positions.

Shiba Inu price analysis: SHIB/USD fluctuates strongly at the $0.00002900 mark 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 41, signifying the consistency of the cryptocurrency. Furthermore, the RSI falls in the lower neutral zone, following a clear trend, representing the selling activity equaling the buying activity, causing the RSI score to remain constant.

Shiba Inu Price Analysis Conclusion:

The Shiba Inu price analysis concludes that the cryptocurrency follows a bearish trend. As a result, Shiba Inu lost all bullish potential yet again today, while the bears stormed the market and succeeded again.

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.

Related News

Hot Stories

Bitcoin, Ethereum, Polkadot, and Tron Daily Price Analyses – 3 December Roundup
Chia Coin Price Prediction 2023-2031: Is XCH a Good Investment?
DeFi predictions 2023: How will crypto and blockchain evolve? 
Dogecoin price analysis: DOGE shows bullish signal with $0.10 mark in sight
Ethereum Classic Price Prediction 2023-2031: Is $ETC Going Up?

Follow Us

Industry News

DeFi predictions 2023: How will crypto and blockchain evolve? 
Avalanche partners with Alibaba Cloud to launch new validators
S. Korean court rejects arrest warrant for Terra co-founder Shin
FTX ex-president plans new crypto startup
MetaMask founder comments on Apple's demand for a 30% cut of the NFT gas fee

Add Your Heading Text Here