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Shiba Inu price analysis: SHIB obtains negative movement at $0.00002286

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00002716.
  • Trading price of SHIB is $0.00002286.

Today’s Shiba Inu price analysis displays a solid bearish movement in the market, and the market moves towards a significantly negative direction, declining the price of SHIB significantly. However, the cost of SHIB experienced a value decline and reached $0.00002357, from $0.00002459; on March 9, 2022, SHIB/USD lost further momentum and obtained a massive decreasing movement the following day.

Today, on March 10, 2022, the price has been experiencing massive downs, causing the price of SHIB to crash to the $0.00002286 mark. Furthermore, the cryptocurrency shows downside risks and is following a downward trend. SHIB currently trades at $0.00002286 and has been down 6.07% in the last 24-hours with a trading volume of $860,810,330. SHIB currently ranks #15 with a live market cap of $12,559,977,177.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis revealed the market following a solid bearish trend. However, the market volatility remains dormant, forcing the resistance and the support to stay where they are, making the cryptocurrency’s price stable until the volatility fluctuates. Consequently, the upper limit of the Bollinger’s band is present at $0.00002440, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002228, 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. Moreover, the price seems to move downward, almost meeting the support. If the price and support meet, it will break the market and reverse the market trend.

Shiba Inu price analysis: SHIB obtains negative movement at $0.00002286 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 40, making SHIB/USD fall in the lower neutral region. However, the price follows a linear trend indicating a stable market and equivalence of buying and selling activity.

Shiba Inu price analysis for 1-day: Market squeezes

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a massive 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 $0.00002716, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002200, 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 follow a linear activity, showing signs of a stable market, and conserving the current trend.

Shiba Inu price analysis: SHIB obtains negative movement at $0.00002286 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 42, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Therefore, following a downward approach signals depreciation and represents the selling activity outweighing the buying activity, causing the RSI score to decrease.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis reveals the market following a complete bearish movement, showing room for future depreciation of Shiba Inu. The bears currently dominate the market and are likely to maintain their dominion for a while. As a result, the market offers massive room for further declining activity, which could destabilize DOGE and lose more value.

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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