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Shiba Inu price analysis: SHIB rises towards $0.00002750 after a strong bullish period

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00003437.
  • Trading price of SHIB is $0.00002712.

Today’s Shiba Inu price analysis reveals a bearish movement in the market. However, the bulls seem to turn the tables on bears now. As a result, the price of SHIB experienced a massive increase and reached $0.00002535, from $0.00002314; on February 22, 2022, SHIB/USD continued a huge increasing trend the following day.

Today, on February 23, 2022, the price has been experiencing massive fluctuations, causing the price of SHIB to increase extensively. As a result, SHIB/USD price has regained most of its value and reached $0.00002712. SHIB currently trades at $0.00002712. As a result, Shiba Inu has been up 9.82% over the previous 24 hours, with a trading volume of $1,426,626,933, ranking #13 with a live market capital of $14,567,574,553.

SHIB/USD 4-hour analysis: Latest developments

The Shiba Inu price analysis revealed the market following a bullish trend as the market volatility increases, forcing the resistance and the support to open up, making the cryptocurrency’s price will remain stable until the volatility fluctuates, as of now, it is getting more prone to volatile change of either exchange. Consequently, the upper limit of the Bollinger’s band is present at $0.00002764, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002324, 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. Again, the price has maintained a bullish trend with potential for further positive activity. The price seems to be following an upwards movement indicating an increasing market and the potential to meet the resistance and break the market.

Shiba Inu price analysis: SHIB rises towards $0.00002750 after a strong bullish period 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 56, making SHIB/USD fall in the upper-neutral region. However, the price follows an upwards trend indicating an increasing market and dominant buying activity.

Shiba Inu price analysis for 1-day: Market closes

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a declining trend, making Shiba Inu’s price less vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00003437, which serves as the strongest for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002221, which acts as the strongest support for SHIB.

The SHIB/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. On the other hand, the price seems to be following an upward activity, showing signs of an increasing market and a possible shift from the current campaign.

Shiba Inu price analysis: SHIB rises towards $0.00002750 after a strong bullish period 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 49, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region, but following a massive upwards approach, signals increment and represents the buying activity exceeding the selling activity, causing the RSI score to increase.

Shiba Inu Price Analysis Conclusion:

The Shiba Inu price analysis reveals the market following bearish movement, showing massive upside potential. The bears currently dominate the market but have grown tired, and the bulls are showing their claws now; they might overtake bears and take them out of the picture. We can expect a god bullish run for the Shiba Inu cryptocurrency.

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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