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Shiba Inu price analysis: SHIB declines tremendously at $0.00002291

SHIB

TL;DR Breakdown

  • The Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00002702.
  • The trading price of SHIB is $0.00002291.

Today’s Shiba Inu price analysis displays a bearish movement in the market, and the market moves towards a negative direction, declining the price of SHIB significantly. After that, however, the cost of SHIB experienced a flash crash and declined to $0.00002291, from $0.00002401; on April 24, 2022, SHIB/USD lost further momentum and obtained a massive decreasing movement the following day.

Today, on April 25, 2022, the price has been experiencing a massive downtrend, causing the price of SHIB to remain under the $0.00002300 mark. Furthermore, the cryptocurrency shows downside risks and is following a downward trend. SHIB currently trades at $0.00002291 and has been down 5.46% in the last 24-hours with a trading volume of $644,903,022. SHIB currently ranks #15 with a live market cap of $12,584,955,139.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis revealed the market following a solid bearish trend. However, the market volatility increases significantly, forcing the resistance and the support to move apart, making the cryptocurrency’s price more prone to volatility fluctuations. Consequently, the upper limit of the Bollinger’s band is present at $0.00002497, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002309, which acts as another resistance point for SHIB.

As we can see, the SHIB/USD price moves under the support band, which makes it part of the resistance now. However, this also indicates that the market has been broken and is now on its way to a reversal movement, hence, the massive volatility.

The SHIB/USD price appears to be crossing under the Moving Average curve, making the market bearish. Moreover, the price begins a downward movement after breaking the support. If the price and support cross each other, it has broken the market and reversed the market dynamic. Therefore, the market shows immense reversal opportunities and will possibly favor the bulls, and the price is expected to shift toward an upward movement.

Shiba Inu price analysis: SHIB declines tremendously at $0.00002291 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 29, making SHIB/USD fall in the devalued region. However, the RSI follows a slight upward trend indicating an increasing market and dominant buying activity. The rising RSI also indicates a reversal happening soon in the market.

Shiba Inu price analysis for 1-day: Market loses momentum

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a slightly declining 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 $0.00002702, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002248, 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. Finally, the price attempts to meet the support, causing a breakout in the market. If that were to happen, the market dynamic could be shifted in the bulls’ favor and prove to be a silver lining.

Shiba Inu price analysis: SHIB declines tremendously at $0.00002291 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 10, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Therefore, following a downward approach signals declining characteristics and represents the selling activity dominating the buying activity, causing the RSI score to decrease.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis reveals the market to have entered a complete bearish movement, showing room for future depreciation of Shiba Inu. Furthermore, the bears currently dominate the market and are likely to maintain it. As a result, the market offers massive room for further declining activity, which could destabilize SHIB and lose more value. However, since the market is broken, we can assume that the bulls will take care of the market soon.

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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