Shiba INU(SHIB) price appears to be pretty bullish in all the time frames. The 24-hour technical analysis issues a buy signal, while the 4-hour chart shows that SHIB is in an uptrend. The indicators on both time frames are mostly bullish, with only a few neutral signals. The upcoming trend for Shiba Inu is bullish as the market looks set to continue its upward move.
SHIB Price Analysis for Long-Term
The 24-hour Shiba Inu price analysis shares this sentiment and also issues a sell signal with several indicators suggesting an upward movement. The analysis reaffirms the bullish dominance across the mid-term charts while showing that there is buying pressure for the asset across the mid-term charts. Meanwhile, nine indicators remain neutral and do not issue any signals at press time.
The MACD is currently bullish, as expressed by the signal line crossing the MACD line. Moreover, the indicator shows strong bullish momentum as observed in the cross-over. The RSI indicator is currently at 58 showing that SHIB is almost being overbought as it is heading towards the oversold zone. This is a clear indication that people are optimistic about SHIB hence increasing its market capitalization.
The Bollinger Bands were narrow since July 10 this was a clear indication that the market was bullish with an accompaniment of an increase in the price of 6.59%. Currently, the indicator is still on the bullish trend
SHIB Price Analysis for the Short Term
The Shiba INU (SHIB) price after the recent flip has been following a notable uptrend channel, inculcating a strong uptrend. The price rebounded firmly as it smashed the lower trend line a couple of times before. And hence if the asset drops back to these levels in case of a pullback, may certainly rebound within no time.
On the 4-hour chart, SHIB is in an uptrend as it is trading above the moving averages. The price has recently pulled back to the 20-day SMA ($0.001165) but looks set to resume its upward move. The RSI is currently at 61, which is in the neutral zone, but looks set to move into the overbought territory. The MACD indicator is currently in the bullish zone and is moving upwards.
The upcoming trend for Shiba Inu is bullish as the market looks set to continue its upward move. The 24-hour technical analysis issues a buy signal, while the 4-hour chart shows that SHIB is in an uptrend. Moreover, the indicators on both time frames are mostly bullish, with only a few neutral signals. Therefore, it is likely that the price of SHIB will continue to increase in the near future.
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Source: https://coinpedia.org/price-analysis/shiba-inu-price-analysis-shib-price-to-hit-0-00001200-level-in-coming-hours/