Shiba Inu price analysis: SHIB crashes past the $0.00002000 mark

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00003499.
  • Trading price of SHIB is $0.00001922.

Today’s Shiba Inu price analysis reveals a bearish movement in the market. With their newfound strength, the bears continue to rule the market and make it seem hopeless for the bulls to counter. As a result, the price of SHIB experienced a massive decline and reached $0.00002219, from $0.00002674; on January 21, 2022, the price maintained a declining trend.

Today, on January 22, 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 $0.00001922 while losing a large segment of its lost value. SHIB currently trades at $0.00001922. Shiba Inu has been down 23.94% in the last 24 hours, with a trading volume of $1,376,233,116.

SHIB/USD 4-hour analysis: Latest developments

The Shiba Inu price analysis has revealed the market following a bearish trend with the volatility opening massively, making the cryptocurrency’s price significantly more vulnerable to volatile change on either extreme. Consequently, the upper limit of the Bollinger’s band is present at $0.00003094, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002133, which acts as another resistance point rather than support for SHIB.

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 bullish opportunity. In the last few hours, the bears have not allowed the bulls to make moves against them and have gripped the market tightly. However, the price appears to have broken the support signifying a breakout, leading to a breakout in the market, which could potentially reverse the market dynamic.

Shiba Inu price analysis: SHIB crashes past the $0.00002000 mark 1
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 12, making SHIB/USD fall headfirst into the undervalued region. The price has crossed the devaluation threshold. However, the price follows a declining trend indicating more devaluation and straying away from stability. This also signals intense selling activity.

Shiba Inu Price Analysis for 1-day: SHIB breaks support

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow an increasing trend, making Shiba Inu’s price more vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00003499, which serves as the most substantial resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002214, which acts as another resistance point 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 and has broken the support, entering a breakout. The breakout might indisputably result in a reversal trend.

Shiba Inu price analysis: SHIB crashes past the $0.00002000 mark 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 24, signifying the depreciation of the cryptocurrency. Furthermore, the RSI falls in the undervalued region, following a downwards trend, representing the selling activity exceeding the buying activity, causing the RSI score to decrease.

Shiba Inu Price Analysis Conclusion:

The Shiba Inu price analysis concludes that the cryptocurrency follows a bearish trend. However, Shiba Inu has lost bullish potential again as the market’s volatility significantly increases. Furthermore, as the support has been completely obliterated, the trend is anticipated to shift in a few days, which will raise the value for SHIB. Therefore, we can expect a bullish market in the coming 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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