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Shiba Inu price analysis: SHIB enters bearish domain at $0.00002144

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00002673.
  • Trading price of SHIB is $0.00002144.

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 $0.00002143, from $0.00002227; on March 14, 2022, SHIB/USD lost further momentum and obtained a massive decreasing movement the following day.

Today, on March 15, 2022, the price has been experiencing massive ups and downs, causing the price of SHIB to crash to the $0.00002144 mark. Furthermore, the cryptocurrency shows downside risks and is following a downward trend. SHIB currently trades at $0.00002144 and has been down 2.53% in the last 24-hours with a trading volume of $662,278,116. SHIB currently ranks #15 with a live market cap of $11,750,130,902.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis revealed the market following a solid bearish trend. However, the market volatility increases slightly, forcing the resistance and the support to move apart, making the cryptocurrency’s price more prone to volatility fluctuations. Consequently, the upper limit of the Bollinger’s band is present at $0.00002269, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002134, 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. However, the support also moves downward as the volatility increases, away from the resistance.

Shiba Inu price analysis: SHIB enters bearish domain at $0.00002144 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 37, making SHIB/USD fall in the undervalued region. However, the RSI follows a downward trend indicating a decreasing market and dominance of selling activity. The SHIB market seems to be in pretty bad shape as the market offers further decline.

Shiba Inu price analysis for 1-day: Market opens

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a slight opening trend, making Shiba Inu’s price more vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00002673, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002063, 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 a constantly decreasing market.

Shiba Inu price analysis: SHIB enters bearish domain at $0.00002144 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 38, signifying an undervalued cryptocurrency. Furthermore, the RSI falls in the depreciation region. Therefore, following a downward approach signals declining characteristics 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 SHIB 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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