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Shiba Inu price analysis: SHIB gains tremendous value in 24 hours

SHIB

TL;DR Breakdown

  • The Shiba Inu price analysis is bullish today.
  • Strong resistance at $0.00002807.
  • The trading price of SHIB is $0.00002710.

The Shiba Inu price analysis reveals a revived bullish movement in the market, and the market moves towards a significantly positive direction, increasing the price of SHIB significantly. However, the market is has recovered from crashing in the last few hours, fortunately regaining most of its lost value. As a result, the cost of SHIB experienced a massive decline and reached $0.00002488, from $0.00002788; on March 31, 2022; however, SHIB/USD continued on an increasing movement the following day.

Today, on April 2, 2022, the price has been experiencing massive ups, causing the price of SHIB to move up to the $0.00002710 mark. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. SHIB currently trades at $0.00002710; as a result, Shiba Inu has been up 6.02% over the previous 24 hours, with a trading volume of $1,134,210,901, ranking #15 with a live market capital of $14,911,118,598.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis revealed that the market is following a bullish trend as the market volatility remains dormant. As a result, the resistance and the support don’t move toward either extreme; now, the price will follow the volatility to whichever extreme it decides. For now, the price is becoming stable Regarding volatile change. Consequently, the upper limit of the Bollinger’s band is present at $0.00002847, which acts as the strongest resistance point for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002500, which acts as the strongest support point 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 upward, signifying an increasing movement, indicating a stable value for the cryptocurrency.

Shiba Inu price analysis: SHIB gains tremendous value in 24 hours 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 56 making SHIB/USD fall in the upper neutral region. However, the RSI score follows a linear trend indicating a stable market and equivalence of buying and selling activity.

Shiba Inu price analysis for 1-day: Market volatility increases

The Shiba Inu price analysis has revealed a bullish market. Moreover, the market’s volatility appears to follow an 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 $0.00002807, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002076, 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 increasing activity, showing signs of a growing market. As a result, the price appears to move toward the resistance and has the potential to break it.

Shiba Inu price analysis: SHIB gains tremendous value in 24 hours 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 60, signifying a stable cryptocurrency. Furthermore, the RSI falls in the upper neutral region. Therefore, following an upward approach signals an increasing market and represents the buying activity surpassing the selling activity, causing the RSI score to increase.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis reveals the market following bullish movement, showing consistent dynamics. As a result, the market offers massive room for conservation of the bullish trend. As a result, the bulls might pull off a long-term regime which may be highly beneficial to the Shiba Inu cryptocurrency.

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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