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Shiba Inu price analysis: SHIB rises to the $0.0002200 mark

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish.
  • The strongest resistance is present at $0.00003383.
  • Shiba Inu trades at $0.00002165.

Today’s Shiba Inu price analysis reveals a bearish movement in the market. With hindrances in their path, the bears continue to rule the market and make it seem like the bulls have the upper hand. As a result, the price of SHIB experienced a massive incline and reached $0.00002159, from $0.00002019; on January 25, 2022, the price maintained an increasing trend.

Today, on January 26, 2022, the price has been experiencing higher-ups, causing the price of SHIB to increase immensely. As a result, SHIB/USD price has risen to $0.00002165 while obtaining a small part of its previously lost value. SHIB currently trades at $0.00002165. Shiba Inu has been up 2.02% in the last 24 hours, with a trading volume of $864,385,839.

SHIB/USD 4-hour analysis: Latest developments

The Shiba Inu price analysis has revealed the market following a bullish trend with the market entering a squeeze, making the cryptocurrency’s price significantly less vulnerable to volatile change on either extreme. Consequently, the upper limit of the Bollinger’s band is present at $0.00002303, which acts as the most vigorous resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00001956, which acts as the most substantial 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 zone with a high probability of bullish activity. The bulls have dominated the market in the last few hours and will possibly continue their rule.

Shiba Inu price analysis: SHIB rises to the $0.0002200 mark 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 48, making SHIB/USD fall into the lower neutral region. The price. However, the price follows an increasing trend indicating more increment in the value of SHIB and movement towards stability. This also signals intense buying activity.

Shiba Inu Price Analysis for 1-day: SHIB/USD moves upwards

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 $0.00003383, which serves as the most substantial resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001940, 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. However, the price seems to be following an upwards activity and signals a possible bullish future if the price crosses over the Moving Average curve.

Shiba Inu price analysis: SHIB rises to the $0.0002200 mark 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 32, signifying the depreciation of the cryptocurrency. Furthermore, the RSI falls in the undervalued region, following an upwards trend, representing the buying activity exceeding the selling activity, causing the RSI score to increase.

Shiba Inu Price Analysis Conclusion:

The Shiba Inu price analysis concludes that the cryptocurrency follows a bearish trend. However, Shiba Inu has obtained tremendous bullish potential again as the market’s volatility slightly increases. Furthermore, 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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