Shiba Inu price analysis is on the rise once again, with the price reaching over $0.000009211 in recent weeks. An uptrend has been following quite consistently and the price has been traveling in the upward direction quite steadily. Even today, an increase in price has been detected because of the bullish momentum. The price is now at the $0.000009211 level and is expected to move higher in the upcoming days.
The SHIB/USD pair is facing strong support levels at $0.00000903, which has been holding strong for several weeks now. In order to keep moving higher and continue the uptrend, the price will need to hold steady above this level. Resistance to the price can be found at $0.000009246, which could act as a ceiling for the price if it climbs too high.
SHIB/USD 1-day price chart: Shiba Inu price glides smoothly toward its next target
The one-day Shiba Inu price analysis is indicating that an uptrend has been at its peak for the past two days. An improvement in price has been recorded in the last 24 hours as well as the price successfully reached the $0.000009211 position.
Although the price fell abruptly in the previous week, the bullish momentum has been restored back once again. The price has moved beyond the moving average (MA) value at $0.00000922 as well. The volatility has decreased which means that the price might go even higher than its current levels. The Bollinger bands Indicator in the one-day price chart are indicating the following values; the upper value is $0.00000958, while the lower value is $0.00000865. The Relative Strength Index (RSI) score is near the overbought mark as well and is at 45.94.
Shiba Inu price analysis: SHIB experiences an uptrend at $0.000009211 after a bullish return
The hourly Shiba Inu price analysis has headed down once again as the Bulls made an ascend in the last four hours. The SHIB/USD value increased to $0.000009211 after the green candlesticks reappeared on the price chart. The market has made a bullish return after the price went down drastically and the bulls entered back into the market. The price is still above the moving average value i.e. $0.00000914 which is a positive sign.
The Bollinger bands indicator is maintaining its average value at the $0.00000930 level. Whereas the upper extreme of the Bollinger bands is at $0.00000972 and the lower extreme is at $0.00000888. The RSI score increased to 46.00, indicating that the price is likely to move higher in the near future.
Shiba Inu price analysis conclusion
The one-day and four hours Shiba Inu price analysis shows that the price has managed to escape the $0.00000900 barrier as well. It is expected that the uptrend will continue to heighten in the upcoming week as well. If the support does not go lower than the $0.00000903 level, we can expect the price to move higher with ease.
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Source: https://www.cryptopolitan.com/shiba-inu-price-analysis-2022-12-08/