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Shiba Inu price analysis: SHIB bullish towards $0.00003100

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bullish today.
  • The strongest support is present at $0.00002769.
  • Trading price of the Shiba Inu coin is $0.00003049.

The Shiba Inu price analysis reveals that the cryptocurrency has maintained a fluctuating market which appears to have retraced its resistance. Although the movement has been positive the past week, bulls have kept it going. For example, following yesterday’s price crash, the price of SHIB decreased significantly and reached $0.00002994 from $0.00003191 on February 13, 2022.

On February 14, 2022, the price remained under the $0.00003000 mark reached $0.00002874. Soon after, the price increased and reached $0.00003049 while losing its value. SHIB currently trades at $0.00003049, with a trading volume of $2,218,228,254. SHIB has been down by 3.51% in the last 24 hours. SHIB currently ranks #14 with a live market cap of $16,746,323,652, and a circulating supply of 549,063,278,876,302 SHIB coins.

SHIB/USD 4-hour analysis: Latest developments

The Shiba Inu price analysis has revealed the market following a newly bullish trend with declining volatility, making the cryptocurrency’s price less vulnerable to volatile change. The upper limit of the Bollinger’s band is present at $0.00003165, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002769, 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, as the cryptocurrency has experienced an immense fluctuating period for the last few hours, which we can observe from the price chart. The price appears to move upwards, which indicates an increasing market. For now, it shows the increment in the value of the cryptocurrency in a closing market.

Shiba Inu price analysis: SHIB bullish towards $0.00003100 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 53, making the Shiba Inu price fall in the stability zone, falling in the upper neutral region. However, the RSI score seems to follow an upwards path, signifying movement towards stability and an increasing Shiba Inu market. Therefore, the rising RSI score represents dominant buying activity.

Shiba Inu price analysis for 24-hours: SHIB/USD enters bullish zone, will it hold?

The Shiba Inu price analysis has revealed a bullish market. 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 $0.00003477, which serves as the strongest resistance point for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001623, which acts as the strongest support point for SHIB.

The SHIB/USD price appears to cross over the curve of the Moving Average, signifying a bullish movement. In addition, the support and resistance bands seem to be opening the gap between them, indicating an opening market giving more room to the Shiba Inu price to move to either extreme. This shows that the bulls are eager to show consistency and will not give the market up to bears as quickly as one might be led to believe.

Shiba Inu price analysis: SHIB bullish towards $0.00003100 2
SHIB/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) score is 58, signifying cryptocurrency stability, and the RSI falls in the upper neutral zone. However, the RSI appears to be following an upwards trend pointing towards an increasing market and dominance of buying activity.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis concludes that the cryptocurrency follows a stable bullish trend, with the bulls trying their best to maintain their potential. On the other hand, the cryptocurrency has gained more volatility, giving the Shiba Inu coin more room for activity on either extreme. However, that depends on how long the bulls can hold the market. Since the market seems to be increasing, now is an excellent time to sell.

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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