Shiba Inu Price Analysis: SHIB/USD set to spike higher today

Shiba Inu Price Analysis

TL;DR Breakdown

  • The Shiba Inu price analysis is bullish today.
  • Strong resistance at $0.00002826.
  • The trading price of SHIB is $0.00002650.

SHIB has had a great run in the past 24 hours as the price surged by over 16%. However, it seems like the bulls are losing steam and the price might correct lower in the short term. Let’s take a closer look at technical analysis.

The Shiba Inu price is trading at $0.00002650 and is facing strong resistance at $0.00002826. If the bulls can push the price above this level, then we can expect a move to $0.00003000. On the downside, support is seen at $0.00002400 and if the price breaks below this level, it could fall to $0.00002100.

The RSI is currently in the overbought territory and is showing signs of a bearish divergence. This suggests that the price might correct lower in the short-term. Therefore, we recommend waiting for the price to correct lower before entering a long position. The target should be $0.00003000.

The Shiba Inu price analysis is bullish today with strong resistance at $0.00002826. The trading price of SHIB is currently $0.00002650 and if the bulls can push the price above this level, then we expect a move to $0.00003000. On the downside, support is seen at $0.00002400 and if the price breaks below this level, it could fall to $0.00002100. The RSI is currently in the overbought territory and is showing signs of a bearish divergence which suggests that the price might correct lower in the short-term. Therefore, we recommend waiting for the price to correct lower before entering a long position. The target should be $0.00003000.

SHIB/USD 4-hour analysis: Recent developments

SHIB has had a great run in the past 24 hours as the price surged by over 16%. However, it seems like the bulls are losing steam and the price might correct lower in the short-term. Let’s take a closer look at technical analysis.

The Shiba Inu price is trading at $0.00002650 and is facing strong resistance at $0.00002826. If the bulls can push the price above this level, then we can expect a move to $0.00003000. On the downside, support is seen at $0.00002400 and if the price breaks below this level, it could fall to $0.00002100.

The RSI is currently in the overbought territory and is showing signs of a bearish divergence. This suggests that the price might correct lower in the short-term. Therefore, we recommend waiting for the price to correct lower before entering a long position.

Shiba Inu price analysis: SHIB starts to lose value at $0.00002650 1SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu’s Relative Strength Index (RSI) score of 50 indicates a market that is falling. However, the RSI is moving slightly downward, indicating a weakening market and heavy selling.

Shiba Inu price analysis for 1-day: Market starts to open

The Shiba Inu price is trading at $0.00002650 and is facing strong resistance at $0.00002826. If the bulls can push the price above this level, then we can expect a move to $0.00003000. On the downside, support is seen at $0.00002400 and if the price breaks below this level, it could fall to $0.00002100.

The RSI is currently in the overbought territory and is showing signs of a bearish divergence which suggests that the price might correct lower in the short-term. Therefore, we recommend waiting for the price to correct lower before entering a long position with a target of $0.00003000.

Shiba Inu price analysis: SHIB starts to lose value at $0.00002650 2

SHIB/USD 1-day price chart source: TradingView

The price analysis for the Shiba Inu reveals a 57 on the Relative Strength Index (RSI), implying a stable cryptocurrency. Furthermore, the RSI is in the neutral territory. As a result of this, following a linear strategy suggests consistent characteristics and indicates that selling activity balances purchasing activity, keeping the RSI score constant.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis indicates the market has entered a full-fledged correction, providing potential for further Shiba Inu depreciation. The bulls currently dominate the market, and they are likely to lose control. As a result, there is a lot of room for additional declining activity in the market, which could throw SHIB into chaos and lose even more money.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

Related News

Hot Stories

Bitcoin price analysis: BTC spikes to $31,000, swift retracement incoming?
Ripple price analysis: XRP rejects downside at $0.56, sharp retracement incoming?
Colorado accepts cryptocurrencies as a means of payment for real estate purchases
STEPN Price Prediction 2022-2027: Is GMT the Next Shiba Inu?
Ripple price analysis: XRP/USD set to break above $0.70

Follow Us

Industry News

El Salvador buys 500 as Bitcoin price plunge towards $30,000
Colorado accepts cryptocurrencies as a means of payment for real estate purchases
Bankless crypto channel cheery after restoration from Youtube ban
Portugal accepts payments in BTC for real estate purchases
Conti: US government announces bounty on hackers