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Shiba Inu Price Analysis: SHIB/USD bullish for the next 24 hours

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bullish today.
  • The strongest support is present at $0.00001831.
  • SHIB/USD is currently trading at $0.0.00003141.

The Shiba Inu price analysis indicates that the cryptocurrency has entered a positive market and appears to have broken through resistance. While there was some volatility last week, bulls kept it going, which is something of an accomplishment in its own right. For example, following yesterday’s rise in price, the value of SHIB rose dramatically and climbed as high as $0.00003463 before pulling back to its current level at $0.00003312 as of this writing. However, that’s still gain from last week’s low and suggests that the bullish movement is still alive and kicking for now – even if it isn’t moving too far or fast.

At one point during today’s trading period, SHIB traded at the equivalent of $0.00003812, but that was back when volatility was even higher than it is now. We’re seeing a little bit more subdued movement at this point, which could mean that it’s time to take real positions and start thinking about where to put stop losses in place until the market settles down again.

SHIB will continue to trend upward over the next few days since there’s no reason for it not to at this point, but there is a chance of a correction taking place. In any event, one thing we can be certain of is that the Shiba Inu price today will go down as yet another case-in-point of why we can’t always rely on “technical analysis” alone to make trading decisions.

Shiba Inu price analysis for 24-hours: SHIB/USD breaks resistance

The Shiba Inu price prediction is bullish right now, and there’s no reason to think it won’t continue moving in that direction. We saw what happened when the market went down last week – it almost immediately bounced back. The same thing could easily happen again this week and help bring prices back up.

Shiba Inu Price Analysis: SHIB/USD bullish for the next 24 hours 1
SHIB/USD 1-day price chart source: TradingView

The first thing we need to do is establish whether the current support level at $0.00001831 is legitimate or not. If it is, then we can reasonably expect SHIB to continue strengthening as it has done since the beginning of this month. It’s also possible that a correction could push prices down to $0.00001831 again, so we’d want to set a level at which we’ll cut our losses if it happens.

This week’s Shiba Inu price prediction is bullish, and the only direction prices are likely to go for now is up. We can expect some volatility, but SHIB is likely to settle down again before long unless the market experiences any unexpected changes.

SHIB/USD 4-hour analysis: Latest developments

The most recent 4-hour candle has closed above the upper Bollinger band, suggesting bullish momentum will continue over the next few hours before it corrects itself again. A move above $0.00003607 is required to invalidate the current 4-hour chart analysis and signal that bullish momentum is still in play; time will tell whether this happens or not.

Shiba Inu Price Analysis: SHIB/USD bullish for the next 24 hours 2
SHIB/USD 4-hour price chart source: TradingView

There is still significant room for growth in the Shiba Inu price forecast, but it might be a good idea to take a short break before starting to invest again. This is one of the best times to invest in SHIB long-term.

The MACD BI is currently the only coin in the top 100 that has not recovered from last week’s dip. Will it do so today? To answer this question, one must look at the chart.

The RSI selling pressure is still high. At the moment, it’s not clear that this will continue to be the case, but SHIB has a history of going up and down rapidly before settling in a trading range for a while.

Shiba Inu Price Analysis: Conclusion:

It might be a good idea to keep an eye on SHIB over the next few days, as there’s a strong possibility that it will trend upward again. Of course, “possibility” is not the same as “imperative,” but if you do want to find out what’s going on with SHIB right now and where it might be going over the next few days, then take a look at our Shiba Inu price analysis.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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