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Shiba Inu price analysis: SHIB/USD to meet resistance at $0.00002210, will it break?

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bullish today.
  • The strongest support is present at $0.00002040.
  • Trading price of SHIB is $0.00002182.

The Shiba Inu price analysis reveals that the cryptocurrency has entered a bullish market and will maintain this movement. Bears had dominated the market since last week, and now bulls managed to fight it off and make their place in the market as the victors. Following yesterday’s fluctuating movement, the price of SHIB increased significantly and reached $0.00002222, from $0.00002120.

On January 30, 2022, the price gradually increased to $0.00002222 again and declined soon after under the $0.00002200 mark. Today the price has regained its bullish momentum and has risen to $0.00002186 while recovering some of its lost value. SHIB currently trades at $0.00002186, with a trading volume of $572,939,426. SHIB has been up by 2.41% in the last 24 hours, ranking #15.

SHIB/USD 4-hour analysis: Latest developments

The Shiba Inu price analysis has revealed the market following a bullish trend with shrinking volatility, making the cryptocurrency’s price less vulnerable to volatile change. However, it seems the market has entered a squeeze, and it keeps getting tighter. The squeeze may remain consistent for some time but indicates that the volatility will eventually burst. The upper limit of the Bollinger’s band is present at $0.00002209, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002040, 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. As a result, the price has entered the bullish zone and is to maintain this movement likely. For the last few hours, the Shiba Inu market has experienced a consistent trend by the bulls, and the price appears to move upwards towards the resistance. They are likely to meet shortly, indicating a future breakout.

Shiba Inu price analysis: SHIB/USD to meet resistance at $0.00002210, will it break? 1
SHIB/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) score is 54, making the cryptocurrency fall in the upper neutral zone, showing no signs of devaluation or inflation. However, the RSI follows a downward path indicating a possible reverse trend.

Shiba Inu Price Analysis for 1-day: SHIB suffers undervaluation

For one day, the Shiba Inu price analysis has revealed a bullish market with the potential to maintain it. Moreover, the market’s volatility appears to follow an increasing trend, making Shiba Inu’s price more prone to volatile change. As a result, the upper limit of the Bollinger’s band is present at $0.00003339, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001723, which acts as the strongest support for SHIB.

The SHIB/USD price appears to cross over the curve of the Moving Average, signifying a bullish movement. The market has been following a bearish trend for the past few weeks. Finally, the trend has switched to a bullish movement. The support and resistance bands appear to be opening the gap between them, indicating an opening market.

Shiba Inu price analysis: SHIB/USD to meet resistance at $0.00002210, will it break? 2
SHIB/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) score is 34, signifying the devaluation of the cryptocurrency, and the RSI falls in the undervalued zone. The RSI appears to be following a linear trend pointing towards consistent dynamics.

Shiba Inu Price Analysis Conclusion:

The Shiba Inu price analysis concludes that the cryptocurrency follows a stable bullish trend. The cryptocurrency has shown much room for bullish activity. The volatility increases as bulls tighten their grip on the market, and they seem to maintain their momentum and might soon engulf the market. However, due to this, the bears also gain a substantial opportunity to make the market theirs.

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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