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Shiba Inu price analysis: SHIB/USD hovers below $0.00003450

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis appears to be bearish.
  • The strongest resistance is present at $0.00003951.
  • The strongest support is present at $0.00003228.

The Shiba Inu price analysis has revealed that the meme cryptocurrency is still following a stable bearish trend, struggling to reach $0.00003450. The price has fluctuated in the past few days between $0.00003305 and $0.00003627. On December 28, 2021, the price went a high cost of $0.00003717 only to decline to $0.00003423 quickly. The next day was even more unfortunate for the meme cryptocurrency; the devaluation ratio increased, and the price fell to $0.00003325. The price then gradually maintained an increasing movement and is $0.00003391.

SHIB/USD 4-hour price analysis: Possible comeback for the bulls

The Shiba Inu price analysis reveals the market’s volatility to be following a significantly increasing trend, signifying the increment in the probability of the SHIB/USD price to experience variable change. The upper limit of the Bollinger’s band is present at $0.00003935, which serves as the strongest resistance. The lower limit of the Bollinger’s band is present at $0.00003228, which represents the strongest support.

The SHIB/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish movement. The price path is observed to be moving in an upwards direction where it may or may not cross over the curve of the Moving Average sometime in the future, which will result in the market trend experiencing a reversal and attaining bullish momentum.

Shiba Inu price analysis: SHIB/USD hovers below $0.00003450 1
SHIB/USD 4-hour price chart source: Trading view

The Relative Strength Index (RSI) is 38, which makes the cryptocurrency fall slightly in the undervalued category but still relatively stable. The RSI can be observed to be following no direction at all. The RSI might increase above 40 and attain maximum stability with bullish dynamics if this keeps up.

Shiba Inu price analysis for 1-day: SHIB/USD shifts between bearish and bullish

The Shiba Inu price analysis shows us that the volatility of the market is following stable dormant movement. It has been experiencing a squeeze for the past few days. The market was expected to burst its volatility due to it being reduced for a while now, but it seems that the market is only getting tighter; we hope to see a burst of volatility soon. The upper limit of the Bollinger’s band is present at $0.00003951, serving as the strongest resistance. The lower limit of the Bollinger’s band is present at $0.00002946, which represents the strongest support.

The SHIB/USD price appears to be crossing under the curve of the Moving Average, signifying a bearish movement. Observations show that the market trend has been shifting at a fast rate. The trend has recently just moved from bullish to bearish.

Shiba Inu price analysis: SHIB/USD hovers below $0.00003450 2
SHIB/USD 1-day price chart source: Trading view

The Relative Strength Index (RSI) is 45, which puts the meme cryptocurrency in a stable lot. The RSI can be seen following a slight inclining trend, indicating a future increment in the SHIB/USD value.

Shiba Inu Price Analysis Conclusion: Bulls and bears fight it out

The conclusion of the Shiba Inu price analysis shows that the current behavior of the meme cryptocurrency shows that it is following a rocky downwards trend with the possibility of a reverse movement very soon. SHIB/USD has suffered severe devaluation following its recent climb to the $0.00003650 mark; the price reached $0.00003643 on December 28, 2021; however, the price suffered a massive decline the next day and fell as far as $0.00003309. Observations indicate a reverse trend very soon, but that depends on the bears who hold all the cards, and the bulls are coming with everything they have.

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.

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