TL;DR Breakdown
- Shiba Inu price analysis is bearish today.
- The strongest resistance is present at $0.00002704.
- The strongest support is present at $0.00002241
Today’s Shiba Inu price analysis reveals a partial bearish movement in the market. However, the odds seem to fall out of the bears’ favor. As a result, the price of SHIB experienced massive inclines and reached $0.00002397, from $0.00002256; on 26 April 2022, SHIB/USD continued a declining trend the following day.
Today, on April 28, 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 $0.00002330. SHIB currently trades at $0.00002548. Shiba Inu has been up 1.18% over the previous 24 hours, with a trading volume of $572,357,775, ranking #15 with a live market capital of $12,799,100,676.
SHIB/USD 4-hour analysis: Latest developments
The Shiba Inu price analysis revealed the market following a bullish trend. However, the market volatility remains constant, forcing the resistance and the support to stay at their positions, making the cryptocurrency’s price stable until the volatility fluctuates. Consequently, the upper limit of the Bollinger’s band is present at $0.00002466, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002241, 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 maintained a bearish trend with much room for further bearish opportunities. However, the price seems to be following an upward movement indicating an increasing market and the potential to cross the Moving Average and reverse the market.
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 45, making SHIB/USD fall in the central neutral region. However, the price follows a linear trend indicating stability and equal selling and buying activities. The SHIB price has found a safe spot and has anchored itself to it.
Shiba Inu price analysis for 1-day: Market opens
The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow an increasing trend, making Shiba Inu’s price more vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00002704, which serves as the strongest for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002228, 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 an upward activity, showing signs of further increment In the value of SHIB and possible reversal of the current campaign.
The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 42, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region but following a linear approach signals increment and represents the buying activity equal to 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, as the market shows potential for a reversal. The bears currently dominate the market and are fighting hard to maintain their control, but the bulls are not coming slowly either; the next 48 hours will decide the fate of the Shiba Inu Coin.
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Source: https://www.cryptopolitan.com/shiba-inu-price-analysis-2022-04-28/