TL;DR Breakdown
- Shiba Inu price analysis appears to be bearish today.
- The strongest support is present at $0.00002746.
- Yhe strongest resistance is present at $0.00004019
The Shiba Inu price analysis shows the price of SHIB/USD suffering a decline over the past few days. With the volatility on the rise again, the price is sure to undergo an increment or a further decline; the price struggles at the $0.00003000 mark after reaching the $0.00002809 mark on January 9, 2022. The market remains bearish, which could lead to further decline. However, with fluctuations, this may not be the case. The current price of SHIB/USD is $0.00002809.
SHIB/USD 4-hour price analysis: The market is in a shaky bearish loop
The Shiba Inu price analysis has revealed market volatility following an increasing movement meaning the cryptocurrency’s price is becoming more prone to experience variable change on either extreme. The upper limit of the Bollinger’s band exists at $0.00003124, which acts as the strongest resistance. The lower limit of the Bollinger’s band limit is available at $0.00002746, representing the strongest support.
The SHIB/USD price appears to be crossing under the Moving Average curve, signifying a bearish trend. The market shifted to a bullish trend for a short while until the bears showed up and took over the market, but as the market’s volatility increases, the trend will soon shift again. The bears utilized the expanding volatility, seized the opportunity, and reclaimed the bulls’ market. The SHIB/USD price appears to be moving upwards and capping just above the support band.
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 36, which means that cryptocurrency falls on neither the undervalued nor the overbought side. The RSI appears to be following a slight upwards approach that reflects the value of the cryptocurrency slowly increasing and moving towards stability. The RSI’s upward movement is caused by the strong buying activity, which is slowly and steadily raising the value of SHIB.
Shiba Inu price analysis for 1-day: Expanding volatility, breakout possible
The Shiba Inu price analysis shows market volatility following a slightly increasing movement. This means that SHIB/USD prices subject to fluctuations will experience variable change as the volatility shows signs of falling to either extreme. The upper limit of the Bollinger’s band is present at $0.00004019, which acts as the strongest resistance. The lower limit of the Bollinger’s band is available at $0.00002714, representing the strongest support.
The SHIB/USD price appears to be crossing below the Moving Average curve, indicating a bearish trend. This may change in the coming days due to increasing volatility, which may be advantageous for bulls. We can see the price trend following the downward movement, which may result in a breakout. However, this is not likely as the flexibility increases; the reverse tendency sounds more reasonable.
The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) is 34, which means that the meme cryptocurrency shows minor signs of being undervalued. The RSI appears to be following an upwards approach that reflects an increasing market trend as the value moves towards stability and that the buying activity outweighs the selling activity. As a result, the RSI score is increasing.
Shiba Inu Price Analysis Conclusion: SHIB/USD moves towards stability
The Shiba Inu price analysis concludes that the cryptocurrency follows a strong bearish trend. The cryptocurrency has shown the potential of a market reversal that may help regain value and increase the price. The volatility expands in Shiba Inu’s favor, and the bulls need to up their game as they were once again taken out of the picture by the bears; the bulls will have to maintain their momentum if they want to see strong results.
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Source: https://www.cryptopolitan.com/shiba-inu-price-analysis-2022-01-09/