Shiba Inu Price Analysis: SHIB/USD stable at $0.00003094

TL;DR Breakdown

• Shiba Inu price analysis is bullish today.
• The strongest resistance is present at $0.00003749.
• The strongest support is present at $0.00002823.

The Shiba Inu price analysis has entered a bullish market and is likely to maintain this movement. The bears dominated the market a few days back, but the bulls have managed to fight it off and reclaim the throne. Following yesterday’s price spike, the price of SHIB increased significantly and reached $0.00003256, from $0.00002995. On January 15, 2022, the price gradually declined to $0.00003040 and remained around that threshold. Today the price has regained its bullish momentum and has risen to $0.0000395 while recovering some of its lost value. SHIB currently trades at $0.00003094.

SHIB/USD 4-hour analysis: Market closes volatility

The Shiba Inu price analysis has revealed the market following a strong bullish trend with shrinking volatility, making the cryptocurrency’s price less vulnerable to volatile change. The upper limit of the Bollinger’s band is present at $0.00003293, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002823, 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. The price has entered the bullish zone and is to maintain this movement likely. The Shiba Inu market has experienced fluctuations between bearish and bullish trends for the last few hours. It has finally decided on staying bullish. As the volatility decreases, the price is more prone to maintain the current trend.

The Relative Strength Index (RSI) score is 56, making the cryptocurrency fall in the upper neutral zone, showing no signs of devaluation or inflation. However, the buying activity has equaled the selling activity causing the RSI score to remain dormant.

Shiba Inu Price Analysis for 1-day: SHIB market tightens the squeeze

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 declining trend, making Shiba Inu’s price less prone to volatile change. The upper limit of the Bollinger’s band is present at $0.00003749, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002569, 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. The market has been following a bearish trend for the past few weeks. Finally, the trend has switched, and the too for the better. The support and resistance band appear to be filling the gap between them, tightening the market, indicating a tighter squeeze.

The Relative Strength Index (RSI) score is 46, signifying the stability of the cryptocurrency, and the RSI falls in the lower neutral zone. The RSI appears to be following a linear trend pointing towards stable dynamics.

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 declines as bulls tighten their grip on the market, and they seem to maintain their momentum and might soon engulf the market. The bears are trying hard to reclaim the crown, but the bulls are countering with everything they have got. The market will remain under bulls’ dominance for a while.

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.