TL;DR Breakdown
- Shiba Inu price analysis is bullish today.
- The strongest support is present at $0.00002062.
- Trading price of SHIB is $0.00002152
The Shiba Inu price analysis reveals that the cryptocurrency has entered a bullish market and will maintain this movement. Although bears have dominated the market for the past week, bulls managed to reclaim the market and crown themselves as rulers. Following yesterday’s price spike, the price of SHIB increased significantly and reached $0.00002152, from $0.00002019.
On February 1, 2022, the price spiked again to the $0.00002184 mark and remained around that threshold. Soon after, the price declined and reached $0.00002152 while losing some of its value. SHIB currently trades at $0.00002251, with a trading volume of $509,539,737. SHIB has been up by 4.28% in the last 24 hours. SHIB currently ranks #15 with a live market cap of $11,822,055,408.
SHIB/USD 4-hour analysis: Latest developments
The Shiba Inu price analysis has revealed the market following a bullish trend with shrinking volatility, making the cryptocurrency’s price less vulnerable to volatile change. However, it seems the market has tightened the squeeze. The squeeze has remained consistent for some time and will continue to stay in tune but indicates that the volatility will burst soon. The upper limit of the Bollinger’s band is present at $0.00002219, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002062, 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. As a result, the price has entered the bullish zone and is likely to continue with this momentum. For the last few hours, the Shiba Inu market has experienced fluctuations between bearish and bullish trends.
The Relative Strength Index (RSI) score is 52, making the cryptocurrency fall in the upper neutral zone, showing no signs of devaluation or inflation. However, the RSI score seems to be moving downwards, signifying possible stability and dominance of selling activity.
Shiba Inu price analysis for 24-hours: Market volatility closes
For one day, the Shiba Inu price analysis has revealed a bullish market with the potential to maintain it. Moreover, the market’s volatility appears to follow a decreasing trend, making Shiba Inu’s price less prone to volatile change. As a result, the upper limit of the Bollinger’s band is present at $0.00003226, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001667, 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. In addition, the support and resistance bands seem to be closing the gap between them, indicating a tightening market. This may mean the preservation of the current trend.
The Relative Strength Index (RSI) score is 34, signifying the devaluation of the cryptocurrency, and the RSI falls in the undervalued zone. However, the RSI appears to be following an upwards trend pointing towards stable dynamics and dominant buying activity.
Shiba Inu Price Analysis Conclusion:
The Shiba Inu price analysis concludes that the cryptocurrency follows a stable bullish trend. The cryptocurrency has shown much room for bullish activity. The volatility decreases as bulls tighten their grip on the market, and they seem to continue with their momentum and might soon engulf the market.
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-2022-02-01/