Shiba Inu price analysis: SHIB/USD shows bullish momentum at $0.00002126

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00003409.
  • Trading price of SHIB is $0.00002125.

Today’s Shiba Inu price analysis reveals a bearish movement in the market. Bears seemed to have exhausted their strength, and the bulls came in to take over. In the next few hours, the bulls might engulf the whole market. As a result, the price of SHIB experienced a stable trend with minor fluctuations and reached $0.00002200, from $0.00001878; on January 24, 2022, the price maintained a steady trend.

Today, on January 25, 2022, the price has been remained stable, causing the price of SHIB to stay around the $0.00002200 threshold. As a result, SHIB/USD price has reached $0.00002125 while attaining a small segment of its previously lost value. SHIB currently trades at $0.00002125. Shiba Inu has been up 8.77% in the last 24 hours, with a trading volume of $1,347,750,793.

SHIB/USD 4-hour analysis: Latest developments

The Shiba Inu price analysis has revealed the market following a bullish trend with the volatility decreasing, making the cryptocurrency’s price less vulnerable to volatile change on either extreme. Consequently, the upper limit of the Bollinger’s band is present at $0.00002324, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00001884, which acts as the strongest support for SHIB.

The SHIB/USD price appears to be crossing over the Moving Average curve, making the market bullish. The price has entered the bullish domain with noticeable signs of further bullish activity. The bulls have taken over the market in the last few hours and possibly hold their stance.

Shiba Inu price analysis: SHIB/USD shows bullish momentum at $0.00002126 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 44, making SHIB/USD fall in the lower neutral region. However, the price follows an upwards trend indicating further increment in the value of SHIB and the dominance of the buying activity.

Shiba Inu Price Analysis for 1-day: Expanding volatility

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 $0.00003409, which serves as the most substantial resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002007, 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. Furthermore, the price seems to be following an inclining trend entering the previously broken support and moving towards stability.

Shiba Inu price analysis: SHIB/USD shows bullish momentum at $0.00002126 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 31, signifying an undervalued cryptocurrency. Furthermore, the RSI falls in the depreciation region. Following a straightforward direction shows no sign at all, representing the selling activity equaling the buying activity, causing the RSI score to remain dormant.

Shiba Inu Price Analysis Conclusion:

The Shiba Inu price analysis concludes that the cryptocurrency follows a bearish trend. However, Shiba Inu has gained tremendous bullish potential again as the market’s volatility increases. Furthermore, the market trend is anticipated to shift fully bullish in a few days, which will raise the value for SHIB. Therefore, we can expect a bullish market in the coming days. However, the bears have a stronghold on the market, making it tricky for the bulls.

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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