TL;DR Breakdown
- Shiba Inu price analysis is bearish today.
- Strong resistance at $0.00003324.
- Trading price of SHIB is $0.00002359.
Today’s Shiba Inu price analysis reveals a bearish movement in the market. However, the bulls seem to show some potential as the market fluctuates. As a result, the price of SHIB experienced a decline and reached $0.00002312, from $0.0000501; on February 27, 2022, SHIB/USD continued a declining trend the following day.
Today, on February 28, 2022, the price has been experiencing massive fluctuations, causing the price of SHIB to remain under the $0.00002400 mark. SHIB currently trades at $0.00002359. As a result, Shiba Inu has been down 2.68% over the previous 24 hours, with a trading volume of $1,182,584,360, ranking #14 with a live market capital of $12,944,395,108.
SHIB/USD 4-hour analysis: Recent developments
The Shiba Inu price analysis revealed the market following a bearish trend as the market volatility decreases as the market enters a squeeze, forcing the resistance and the support to come together, making the cryptocurrency’s price will remain stable until the volatility fluctuates, as of now, it is getting less prone to volatile change of either exchange. Consequently, the upper limit of the Bollinger’s band is present at $0.00002535, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002318, 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. Again, the price has entered a bearish trend with bullish potential. The price seems to be following an upward movement indicating an increasing market.
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 43, making SHIB/USD fall in the lower-neutral region. However, the price follows an upward trend indicating an increasing market and dominance of buying activity.
Shiba Inu price analysis for 1-day: Market starts to close
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 $0.00003324, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002147, 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 downwards activity, showing signs of a declining market.
The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 40, 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 bearish movement, showing stable dynamics. The bears currently dominate the market but have grown tired. However, the market shows massive upside potential and might reverse the direction soon, making the bulls rulers of the market.
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Source: https://www.cryptopolitan.com/shiba-inu-price-analysis-2022-02-28/