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Shiba Inu price analysis: SHIB shows consistency at $0.00002670 after a bullish run

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bullish today.
  • Strong resistance at $0.00003176.
  • Trading price of SHIB is $0.00002670.

Today’s Shiba Inu price analysis reveals a robust bullish movement in the market, and the market moves towards a positive direction, raising the price of SHIB significantly. As a result, the cost of SHIB experienced a value consistency and reached $0.00002829, from $0.00002547; on March 1, 2022, SHIB/USD continued an increasing movement the following day.

Today, on March 2, 2022, the price has been experiencing massive ups, causing the price of SHIB to move up to the $0.00002670 mark. Furthermore, the cryptocurrency shows upside potential and is following an upward trend, which means it will reach its goal sooner than expected. SHIB currently trades at $0.00002670. As a result, Shiba Inu has been up 3.70% over the previous 24 hours, with a trading volume of $1,991,888,352, ranking #14 with a live market capital of $14,615,951,228.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis revealed the market following a solid bullish trend as the market volatility increases as the market opens up, forcing the resistance and the support to move further away from each other; now, it is getting more prone to volatile change of either exchange. Consequently, the upper limit of the Bollinger’s band is present at $0.00002792, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002270, 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. Moreover, the price seems to move downwards, indicating a declining market. If the price and support meet, it will break the market and reverse the market trend.

Shiba Inu price analysis: SHIB shows consistency at $0.00002670 after a bullish run 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 61, making SHIB/USD fall in the overvalued region. However, the price follows a slight upward trend indicating an increasing market and dominance of buying activity. Furthermore, the RSI score indicates possible inflation, which will cause the SHIB/USD cost to plummet right after.

Shiba Inu price analysis for 1-day: Market closes

The Shiba Inu price analysis has revealed a bullish 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 $0.00003176, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002216, which acts as the strongest support for SHIB.

The SHIB/USD price appears to cross over the curve of the Moving Average, signifying a bullish movement. On the other hand, the price seems to be following an upward activity, showing signs of an increasing market, and conserving the current trend.

Shiba Inu price analysis: SHIB shows consistency at $0.00002670 after a bullish run 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 51, signifying a stable cryptocurrency. Furthermore, the RSI falls in the upper neutral region. Following a downwards approach signals devaluation and represents the selling activity exceeding the selling activity, causing the RSI score to decrease.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis reveals the market following bullish movement, showing bearish possibilities. The bulls currently dominate the market and are likely to keep controlling. However, the market offers massive room for a reversal, leading to a bearish future.

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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