TL;DR Breakdown
- Shiba Inu price analysis is bullish today.
- Strong resistance at $0.00003223.
- Trading price of SHIB is $0.00002618.
Today’s Shiba Inu price analysis reveals a robust bullish movement in the market, and the market moves towards a positive direction, raising the price of SHIB significantly. As a result, the cost of SHIB experienced a value spike and reached $0.00002605, from $0.00002292; on February 28, 2022, SHIB/USD continued an increasing movement the following day.
Today, on March 1, 2022, the price has been experiencing massive ups, causing the price of SHIB to move up to the $0.00002650 mark. Furthermore, the cryptocurrency shows upside potential and is following an upward trend, which means it will reach its goal sooner than expected. SHIB currently trades at $0.000022618. As a result, Shiba Inu has been up 9.43% over the previous 24 hours, with a trading volume of $1,649,831,946, ranking #14 with a live market capital of $14,314,235,496.
SHIB/USD 4-hour analysis: Recent developments
The Shiba Inu price analysis revealed the market 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. Consequently, the upper limit of the Bollinger’s band is present at $0.00002630, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002292, 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 move upwards, almost meeting the resistance. If the price and resistance meet, it will break the market and reverse the market trend.
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 62, making SHIB/USD fall in the overvalued region. However, the price follows an upward trend indicating an increasing market and dominance of buying activity. Furthermore, the RSI score indicates possible inflation, which will cause the SHIB/USD cost to plummet right after.
Shiba Inu price analysis for 1-day: Market starts to close
The Shiba Inu price analysis has revealed a bullish 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 $0.00003223, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002202, which acts as the strongest support for SHIB.
The SHIB/USD price appears to cross over the curve of the Moving Average, signifying a bullish movement. On the other hand, the price seems to be following an upward activity, showing signs of an increasing market, and conserving the current trend.
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. Following a linear approach signals stability and represents the buying activity equaling the selling activity, causing the RSI score to remain constant.
Shiba Inu Price Analysis Conclusion
The 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.
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.
Source: https://www.cryptopolitan.com/shiba-inu-price-analysis-2022-03-01/