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Shiba Inu price analysis: SHIB gains momentum for $0.00002950

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • The strongest resistance is present at $0.00003587.
  • Trading price of the Shiba Inu coin is $0.00002920.

The Shiba Inu price analysis reveals that the cryptocurrency has crashed in 24 hours. On February 17, 2022, the movement started as a crash from $0.00003229 to $0.00002780. After that, however, the price stabilized a regained positive momentum and capped at $0.00002857. On February 18, 2022, the price continued positive movement and rose to $0.00002992, but shortly after, the cryptocurrency regained bearish momentum capped at $0.00002920.

SHIB currently trades at $0.00002920, with a trading volume of $1,802,037,888. SHIB has been down 6.53% in the last 24 hours. SHIB currently ranks #14 with a live market cap of $16,072,484,707, 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 increasing volatility, making the cryptocurrency’s price more vulnerable to volatile change. The upper limit of the Bollinger’s band is present at $0.00003235, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002857, 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 maintained a bearish period for the last few hours, which we can observe from the price chart. The price appears to move linearly, indicating consistent dynamics and conservation of the current movement.

Shiba Inu price analysis: SHIB gains momentum for $0.00002950 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 44, making the Shiba Inu price fall in the stability zone, falling in the lower neutral region. However, the RSI score follows a slightly downwards path, signifying a decreasing market and movement towards devaluation. Therefore, the rising RSI score represents the dominant selling activity.

Shiba Inu price analysis for 24-hours: SHIB gains positive momentum

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a decreasing trend, making Shiba Inu’s price less prone to volatile change. As a result, the upper limit of the Bollinger’s band is present at $0.00003587, which serves as the strongest resistance point for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001846, which acts as the strongest support point for SHIB.

The SHIB/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. In addition, the support and resistance bands seem to be closing the gap between them, indicating a tight market giving less room to the Shiba Inu price to move to either extreme. This shows that the bears are eager to show consistency.

Shiba Inu price analysis: SHIB gains momentum for $0.00002950 2
SHIB/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) score is 53, signifying cryptocurrency stability, and the RSI falls in the upper neutral zone. However, the RSI appears to be following an upwards trend pointing towards a slightly increasing market. The dominant buying activity signifies the increasing RSI score.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis concludes that the cryptocurrency follows a stable bearish trend. Bears showed promising statistics, which the bulls’ efforts have now negated. On the other hand, the cryptocurrency has closed volatility, giving the Shiba Inu coin less for activity on either extreme. However, that depends on how long the bulls can maintain their potential.

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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