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Shiba Inu price analysis: SHIB bearish at $0.00002437

SHIB

TL;DR Breakdown

  • The Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00002737.
  • The trading price of SHIB is $0.00002437.

Today’s Shiba Inu price analysis displays a partial bearish movement in the market, and the market moves towards a negative direction, declining the price of SHIB. However, the cost of SHIB experienced a value decline and reached $0.00002415, from $0.00002537; on April 21, 2022, SHIB/USD gained momentum and obtained a massive increasing movement the following day.

Today, on April 23, 2022, the price has been experiencing massive ups and downs, causing the price of SHIB to increase to the $0.00002430 mark. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. SHIB currently trades at $0.00002437 and has been up 0.19% in the last 24-hours with a trading volume of $381,477,674. SHIB currently ranks #15 with a live market cap of $13,390,075,724.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis revealed the market following a bullish trend. However, the market volatility decreases slightly, forcing the resistance and the support to move toward each other, making the cryptocurrency’s price less prone to volatility fluctuations. Consequently, the upper limit of the Bollinger’s band is present at $0.00002557, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002378, 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 begin an upward movement after almost meeting the resistance band. If the price and resistance meet, it will reverse the market and possibly bring the bears into power.

Shiba Inu price analysis: SHIB bearish at $0.00002437 1
SHIB/USD4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 43, making SHIB/USD fall in the lower neutral region. However, the RSI follows a slight upward trend indicating an increasing market and dominance of buying activity. Therefore, the price moves upwards as a result of the RSI increment.

Shiba Inu price analysis for 1-day: Market bearish

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a slight closing trend, making Shiba Inu’s price less vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00002737, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002279, 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 follow further downward activity, showing a constantly decreasing market.

Shiba Inu price analysis: SHIB bearish at $0.00002437 2
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 46.67, signifying a stable cryptocurrency. Furthermore, the RSI falls in the central neutral region. Therefore, following a linear approach signals consistent characteristics and represents the selling activity equaling the buying activity, causing the RSI score to remain constant.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis reveals the market to have entered a partial bearish movement, showing room for future increment in the value of Shiba Inu. The bears currently dominate the market and are likely to maintain their dominion for a while. However, the market offers massive room for a reversal as the price moves positively, which could stabilize SHIB and regain its lost value.

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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