Shiba Inu price analysis: SHIB suffers devaluation at $0.00002771

TL;DR Breakdown

• Shiba Inu price analysis is bearish today.
• Strong resistance at $0.00003567.
• Trading price of SHIB is $0.00002768.

Today’s Shiba Inu price analysis reveals a bearish movement in the market. Furthermore, the bears have found new strength in the resistance at the $0.00003500 mark that they have used to clench the market tighter. The odds seem to fall out of the bears’ favor. However, bulls are showing potential, but can they maintain it? As a result, the price of SHIB experienced massive depreciation and reached $0.00002778, from $0.00003229; on February 17, 2022, SHIB/USD continued a declining trend the following day.

Today, on January 19, 2022, the price has been experiencing massive fluctuations, causing the price of SHIB to increase slightly. As a result, SHIB/USD price has regained some value and reached $0.00002771. SHIB currently trades at $0.00002771. Shiba Inu has been down 3.69% over the previous 24 hours, with a trading volume of $1,222,706,585, ranking #14 with a live market capital of $15,154,653,558.

SHIB/USD 4-hour analysis: Latest developments

The Shiba Inu price analysis has revealed the market following a bearish trend as the market opens, forcing the resistance and the support to move apart, making the cryptocurrency’s price significantly more vulnerable to volatile change on either extreme. Consequently, the upper limit of the Bollinger’s band is present at $0.00003216, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002709, which acts as the strongest support for SHIB.

The SHIB/USD price appears to be crossing under the Moving Average curve, making the market bearish. The price has maintained a bearish trend again, with much potential for further bearish activity. The price seems to be following an upward movement indicating an increasing market and potential to maintain this movement.

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 38, making SHIB/USD fall in the lower neutral region. However, the price follows a downwards trend indicating depreciation and dominant selling activity.

Shiba Inu price analysis for 1-day: Bears engulf the market

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a 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 $0.00003567, which serves as the strongest for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001922, 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 a downward activity, showing signs of further depreciation and possible conservation of the current campaign.

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 49, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Therefore, following a slight downward approach is signaling depreciation and represents the selling activity exceeding the buying activity, causing the RSI score to decline.

Shiba Inu Price Analysis Conclusion:

The Shiba Inu price analysis concludes that the cryptocurrency follows a bearish trend. However, Shiba Inu has shown promising dynamics for a conserved movement, but that will depend on the performance of the bears. Furthermore, the bears keep on depreciating the price giving the bulls no chance to recover.

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