Shiba Inu price analysis displays almost bullish movement in the market, and the market moves towards a massive upward direction, raising the price of SHIB. After that, however, the cost of SHIB experienced a spike and increased to $0.00000806, from $0.00000736; on June 19, 2022, SHIB/USD gained further momentum and obtained a further increasing movement the following day.
Today, on June 20, 2022, the price has been experiencing a strong uptrend, causing the price of SHIB to move over the $0.00000800 mark. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. SHIB currently trades at $0.00000819 and has been up 3.65% in the last 24-hours with a trading volume of $293,805,508. SHIB currently ranks #15 with a live market cap of $4,494,391,568.
SHIB/USD 4-hour analysis: Recent developments
Shiba Inu price analysis revealed the market is following a bullish trend. However, the market volatility increases, forcing the resistance and the support to move apart from each other, making the cryptocurrency’s price more prone to volatility fluctuations. Consequently, the Bollinger’s band’s upper limit is $0.00000845, which acts as a support point for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00000744, which acts as another support point for SHIB.
The SHIB/USD price appears to be crossing over the Moving Average curve, making the market bullish. Therefore, the market shows immense reversal opportunities and possibly favors the bulls. As a result, the price is expected to shift toward an upward movement over the resistance band, causing a breakout in the market.
Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 53, making SHIB/USD fall above the upper neutral region. However, the RSI follows a downward trend indicating a favorable market and dominance of selling activity.
Shiba Inu price analysis for 1-day
Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a downward trend, making Shiba Inu’s price less vulnerable to volatility fluctuations. As a result, the Bollinger’s band’s upper limit is at $0.00001208, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00000698, 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 an upward activity, showing a constantly increasing market. Finally, the price attempts to cross the resistance band, which might cause a reversal in the market.
Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 34, signifying an undervalued cryptocurrency. Furthermore, the RSI falls under the lower-neutral region. Therefore, following a linear approach signals consistent characteristics and represents the equivalence of buying and selling activities.
Shiba Inu Price Analysis Conclusion
Shiba Inu price analysis reveals the market to have entered a partial bullish movement, showing room for a reversal of Shiba Inu. Furthermore, the bears currently dominate the market and are not likely to maintain it. As a result, the market offers massive room for further increasing activity, stabilizing SHIB, and gaining more value. As a result, since the market is expected to break, we can assume that the bears will soon take care of the market.
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Source: https://www.cryptopolitan.com/shiba-inu-price-analysis-2022-06-20/