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Shiba Inu price analysis: SHIB break support at $0.00002175

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00003449.
  • Trading price of SHIB is $0.0000175.

Today’s Shiba Inu price analysis reveals a bearish movement in the market. However, the market seems to have been broken, and a reversal is now imminent. As a result, the price of SHIB experienced a massive decrease and reached $0.00002175, from $0.00002289; on February 24, 2022, SHIB/USD continued a huge increasing trend.

Today, the price has been experiencing massive fluctuations, causing the price of SHIB to decrease extensively. As a result, SHIB/USD price has lost most of its newfound value and reached $0.00002175. SHIB currently trades at $0.00002175. As a result, Shiba Inu has been down 16.96% over the previous 24 hours, with a trading volume of $2,547,958,445, ranking #15 with a live market capital of $12,049,149,914.

SHIB/USD 4-hour analysis: Latest developments

The Shiba Inu price analysis revealed the market following a bearish 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 $0.00002782, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002166, which acts as another resistance point for SHIB.

The SHIB/USD price appears to be crossing under the Moving Average curve, making the market bearish. Again, the price has maintained a bearish trend with potential, but the market has been broken, and a reversal is inevitable now. The price has broken past the support, signifying a breakout, exploding the volatility, and reversing the market movement.

Shiba Inu price analysis: SHIB break support at $0.00002175 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 30, making SHIB/USD fall in the undervalued region. However, the price follows a downward trend indicating a decreasing market and dominant selling activity.

Shiba Inu price analysis for 1-day: Market breaks

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 $0.00003449, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002175, which acts as another resistance point 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 a downward activity, showing signs of a decreasing market and a future shifting market the support has already been broken.

Shiba Inu price analysis: SHIB break support at $0.00002175 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 36, signifying an undervalued cryptocurrency. Furthermore, the RSI falls in the devaluation region, but following a massive downward approach signals a declining market and represents the selling activity exceeding the buying 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 reversal potential. The bears currently dominate the market but have grown tired, and with the market in the breakout, the bulls gain an immense opportunity to take control and maintain it for a long time; they might overtake bears and take them out of the picture. We can expect an excellent 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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