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Shiba Inu price analysis: SHIB begins to lose bullish potential at $0.00002238

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bullish today.
  • Strong resistance at $0.00002655.
  • Trading price of SHIB is $0.0000238.

Today’s Shiba Inu price analysis reveals a newfound 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 tremendous value increment and reached $0.00002269, from $0.00002152; on March 16, 2022, SHIB/USD shifted to an increasing movement the following day.

Today, on March 17, 2022, the price has been experiencing massive ups and downs, causing the price of SHIB to move up to the $0.00002275 mark just before declining slightly to $0.00002238. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. SHIB currently trades at $0.00002238; as a result, Shiba Inu has been up 1.73% over the previous 24 hours, with a trading volume of $2,252,325,822, ranking #15 with a live market capital of $12,277,746,222.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis revealed the market is entering a bullish trend as the market volatility increases, forcing the resistance and the support to move in opposite directions; now, the price will follow the volatility to whichever extreme it decides, for now, the price is becoming more prone to volatile change. Consequently, the upper limit of the Bollinger’s band is present at $0.00002266, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002125, 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 upwards, indicating an increasing market. However, the price has broken the resistance recently, which has caused the market to become volatile and resulted in a newfound downward movement for the SHIB/USD price.

Shiba Inu price analysis: SHIB begins to lose bullish potential at $0.00002238 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 54 making SHIB/USD fall in the upper neutral region. However, the price follows a downward trend indicating a decreasing market and dominance of selling activity. This might result in the bears taking over again, but that doesn’t seem likely as the RSI shifts to a relatively linear flow.

Shiba Inu price analysis for 1-day: Bullish market

The Shiba Inu price analysis has revealed a bullish market. Moreover, the market’s volatility appears to follow a slightly increasing 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 $0.00002655, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002047, 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.

Shiba Inu price analysis: SHIB begins to lose bullish potential at $0.00002238 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 43, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Following a slightly downward approach signals a decreasing market and represents the selling activity exceeding the buying activity, causing the RSI score to decrease.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis reveals the market following bullish movement, showing further bullish opportunities. The bulls currently dominate the market and have taken bears out of the picture. As a result, the market offers massive room for increment in the value of SHIB, leading to a bullish future. However, the market also indicates a reversal as SHIB/USD price recently broke the resistance.

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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