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Shiba Inu price analysis: SHIB shows positive movement towards $0.00003100

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bullish today.
  • The strongest resistance is present at $0.00003565.
  • Trading price of the Shiba Inu coin is $0.00003051.

The Shiba Inu price analysis reveals that the cryptocurrency has followed a positive movement for 72 hours. Through February 14, 2022, the movement started as a crash from $0.00003073 to $0.00002902. However, the price stabilized a regained positive momentum the next day on February 15, 2022, and capped at $0.00003135, rising from $0.00002963.

On February 16, 2022, the price regains bearish momentum, remaining under the $0.00003050 mark; today’s highest reached $0.00003088. Soon after, the price declined and reached $0.00003051 while losing nominal value. SHIB currently trades at $0.00003051, with a trading volume of $1,570,198,597. SHIB has been up 0.27% in the last 24 hours. SHIB currently ranks #14 with a live market cap of $16,734,823,791, 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 bearish trend with dormant volatility, making the cryptocurrency’s price consistent with volatile change. The upper limit of the Bollinger’s band is present at $0.00003184, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002860, which acts as the strongest support for SHIB.

The SHIB/USD price appears to be crossing under the Moving Average curve, making the market bearish. As a result, the bears now have control of the market, as the cryptocurrency has experienced a bullish period for the last few hours, which we can observe from the price chart. The price appears to move downwards, which indicates a decreasing market.

Shiba Inu price analysis: SHIB shows positive movement 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 51, making the Shiba Inu price fall in the stability zone, falling in the upper neutral region. However, the RSI score follows a downwards path, signifying a declining market and movement towards devaluation. Therefore, the decreasing RSI score represents the dominant selling activity.

Shiba Inu price analysis for 24-hours: SHIB faces devaluation

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 $0.00003565, which serves as the strongest resistance point for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001720, 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 raise the price; however, the bears are getting more powerful by the second and will surely take control soon.

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

The Relative Strength Index (RSI) score is 57, signifying cryptocurrency stability, and the RSI falls in the upper neutral zone. However, the RSI appears to be following a downward trend pointing towards a depreciating market. The dominant selling activity signifies the decreasing RSI score.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis concludes that the cryptocurrency follows a stable bullish trend, with the bears showing promising statistics. 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. The bears appear to have started making their moves against the bears to engulf the market completely.

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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