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Shiba Inu price analysis: SHIB shows bullish potential at $0.00001063

Shiba Inu price analysis
TL;DR Breakdown
  • Shiba Inu price analysis is bullish today.
  • The strongest resistance is present at $0.00001076
  • Support for SHIB/USD is present at $0.00007979

Shiba Inu price analysis shows a bullish trend for today. The digital asset is currently trading at $0.00001063 and shows signs of a breakout from the descending triangle pattern it has been trading in the last few days. The next significant resistance for SHIB/USD is present at $0.00001076 and a breakout above this level could see the digital asset target at the $0.00001250 level in the near term. On the downside, support for SHIB/USD is present at $0.00007979 and a break below this level could see the digital asset test at the $0.00007000 level in the short term.

Shiba Inu price today is trading at $0.00001063 after an increase of 6.49% in the last 24 hours. The market capitalization of SHIB stands at $5,719,700,066, and the 24-hour trading volume is at $923,431,758. The total supply of SHIB is 1,000 trillion SHIB, and the circulating supply is 10.8% of this. The all-time high price for SHIB was $0.00001250, and the all-time low was $0.00000011.

Shiba Inu price analysis for 1-day: Bulls in control as SHIB/USD tests $0.00001063

The daily chart for Shiba Inu price analysis is bullish today as the digital asset looks to test the $0.00001063 level. The investors in the 24-hour timeframe are currently in control as the price has broken out of the descending triangle pattern it was trading in. The level of resistance is present at $0.0000107 and support for SHIB/USD is present at $0.00007979.

image 308
SHIB/USD 24-hour price chart source: TradingView

The Bollinger band for SHIB is currently in the green zone, which suggests that volatility is low and a breakout is likely. The RSI indicator is currently at 61.60, which shows that the digital asset is neither overbought nor oversold at the moment. The MACD indicator shows that bullish momentum is present in the market as the histogram has moved above the signal line.

SHIB/USD 4-hour analysis: Recent developments

Shiba Inu price analysis on a 4-hour chart revealed the market is following a solid bullish trend as the market volatility increases as the market opens up, forcing the resistance and the support to move further away from each other, making the cryptocurrency’s price will remain stable until the volatility fluctuates, as of now, it is getting more prone to volatile change of either exchange.

image 307
SHIB/USD 4-hour price chart source: TradingView

Consequently, the upper limit of the Bollinger’s band is present at $0.000011 and the lower limit is present at $0.000009, as the market has moved away from the center line, it is heading towards the overbought territory. The RSI indicator is currently at 62.87, which is in neutral territory and shows no extremity. The MACD indicator shows that bullish momentum.

Shiba Inu Price Analysis Conclusion

Shiba Inu price analysis reveals the market following bullish movement, showing stable dynamics. The bulls currently dominate the market and are likely to keep controlling. However, the market offers massive room for further upside activity, which could also lead to an inflation of the cryptocurrency. Buyers should be aware of the possibility of a price drop and should set their stop-loss orders accordingly.

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.

John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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