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Shiba Inu price analysis: SHIB gains value at $0.00002469

SHIB

TL;DR Breakdown

  • The Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00002779.
  • The trading price of SHIB is $0.00002469.

The Shiba Inu price analysis reveals a partial bearish movement in the market, and the market moves towards a significantly positive direction, increasing the price of SHIB significantly. However, the market 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 incline and reached $0.000022469, from $0.00002450; on April 9, 2022; however, SHIB/USD continued on an uncertain movement the following day.

Today, on April 10, 2022, the price has been experiencing massive ups, causing the price of SHIB to move up to the $0.00002469 mark. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. SHIB currently trades at $0.00002469; as a result, Shiba Inu has been up 3.17% over the previous 24 hours, with a trading volume of $515,930,526, ranking #15 with a live market capital of $13,555,213,023.

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 the volatile change. Consequently, the upper limit of the Bollinger’s band is present at $0.00002532, which acts as the strongest resistance point for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002366, 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 value at $0.00002469 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 48 making SHIB/USD fall in the central neutral region. However, the RSI score follows an upward trend indicating a stable market and dominant buying activity.

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

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a closing 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 $0.00002779, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002303, 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 be following an increasing activity, showing signs of a growing market. As a result, the price appears to move toward the moving average attempting to cross it.

Shiba Inu price analysis: SHIB gains value at $0.00002469 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 48, signifying a stable cryptocurrency. Furthermore, the RSI falls in the central neutral region. Therefore, following a linear approach signals an increasing market and represents the buying activity equaling the selling activity, causing the RSI score to increase.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis reveals the market following a partial bearish 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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