Shiba Inu price analysis: Bears retain their momentum at $0.00002783

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • Strong support at $0.00002731.
  • Trading price of SHIB is $0.00002783.

Today’s Shiba Inu price analysis reveals an utterly bearish movement in the market, with the bears with the upper hand, giving bulls no chance to counter. Following the previous direction, the price of SHIB experienced a decline and reached $0.00002780, from $0.00003034. On January 18, 2022, the price maintained a declining trend.

Today, on January 19, 2022, the price has been experiencing severe downs, causing the price of SHIB to decline immensely. As a result, SHIB/USD price has dropped to $0.00002783 while losing a large chunk of its value. SHIB currently trades at $0.00002783. Shiba Inu has been down 3.29% in the last 24 hours, with a trading volume of $797,094,237.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis has revealed the market following a bearish trend with the volatility increasing significantly, making the cryptocurrency’s price more vulnerable to volatile change on either extreme. Consequently, the upper limit of the Bollinger’s band is present at $0.00003115, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002713, which acts as the most substantial support for SHIB.

The support and resistance band appears to be opening up, indicating the market is opening up, which provides opportunities to the bulls and bears; for the time being, the market is controlled by the bears, and they seem to have reasonable control over it. However, the bulls will not just sit and watch. They are bound to bounce back and retain the market once again.

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 tangible signs of the bears maintaining it, and now it seems they will remain on the throne for a while. In the last few hours, the bears have not allowed the bulls to make moves against them and have gripped the market tightly.

Shiba Inu price analysis: Bears retain their momentum at $0.00002783 1
SHIB/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) score is 32, making the cryptocurrency fall headfirst into the undervalued region, showing severe signs of devaluation. The buying activity has been utterly defeated by the selling activity, causing the cryptocurrency to devalue. However, the RSI score seems to have stopped moving, indicating that the buying and selling activities are equal.

Shiba Inu Price Analysis for 1-day: Market enters a squeeze

The Shiba Inu price analysis has revealed a bearish market with massive room for further bearish activity. Moreover, the market’s volatility appears to follow a dormant trend, making Shiba Inu’s price constant until the volatility fluctuates. However, the resistance and support bands have closed the gap, entering a squeeze. As a result, the upper limit of the Bollinger’s band is present at $0.00003472, which serves as the most substantial resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002584, 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. The price is bound to break the support soon unless the volatility fluctuates; if the support breaks, the market will enter a breakout, and a reverse trend will be inevitable.

Shiba Inu price analysis: Bears retain their momentum at $0.00002783 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 39, signifying the depreciation of the cryptocurrency. Furthermore, the RSI falls in the undervalued region, 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 has lost all bullish potential yet again today, while the bears continue to rule over the market. The trend is anticipated to last a few days before showing signs of a reversal, which is very unlikely considering how strong the bears’ hold is on 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.

Related News

Hot Stories

Ripple price analysis: XRP turns bearish again after pulling back up to $0.45, what's next?
Portugal unveils capital gains tax on crypto
Ripple price analysis: XRP/USD set to break above the $0.5 resistance
Dogecoin founder says 95% of cryptocurrencies are ''scam and garbage"
Luna Foundation Guard reveals its $3 billion reserve is down to $87 million

Follow Us

Industry News

MiamiCoin and NewYorkCoin plummet over 85% despite Mayoral endorsements
Cloudflare grants public access to Ethereum and IPFS gateways
Coinbase slows down hiring plans after Q1 losses
Korea's authorities open investigation into TerraUSD collapse
Ukraine war and Bitcoin plunge exposes crypto as no hedge against equities