TL;DR Breakdown
- Shiba Inu price analysis is bearish today.
- Strong resistance at $0.00002672.
- Trading price of SHIB is $0.00002241.
Today’s Shiba Inu price analysis displays a solid bearish movement in the market, and the market moves towards a significantly negative direction, declining the price of SHIB significantly. However, the cost of SHIB experienced a value decline and reached $0.00002239, from $0.00002389; on March 10, 2022, SHIB/USD lost further momentum and obtained a massive decreasing movement the following day.
Today, on March 11, 2022, the price has been experiencing massive downs, causing the price of SHIB to crash to the $0.00002241 mark. Furthermore, the cryptocurrency shows downside risks and is following a downward trend. SHIB currently trades at $0.00002241 and has been down 1.08% in the last 24-hours with a trading volume of $717,577,439. SHIB currently ranks #15 with a live market cap of $12,356,814,303.
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 slightly, 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 $0.00002445, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002193, 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. Moreover, the price seems to move downward, almost meeting the support. If the price and support 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 38, making SHIB/USD fall in the undervalued region. However, the RSI follows a downward trend indicating a decreasing market and dominance of selling activity.
Shiba Inu price analysis for 1-day: Market tightens
The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a massive 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 $0.00002672, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002190, 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 a downward activity, showing signs of a decreasing market.
The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 40, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Therefore, following a linear approach signals consistency 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 following a complete bearish movement, showing room for future depreciation of Shiba Inu. The bears currently dominate the market and are likely to maintain their dominion for a while. As a result, the market offers massive room for further declining activity, which could destabilize DOGE and lose more value.
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Source: https://www.cryptopolitan.com/shiba-inu-price-analysis-2022-03-11/