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Shiba Inu price analysis: SHIB consistent at $0.00002240

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TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00002668.
  • Trading price of SHIB is $0.00002240.

Today’s Shiba Inu price analysis displays an uncertain bearish movement in the market, and the market shows signs of activity toward a positive direction, increasing the price of SHIB slightly. Then, however, the cost of SHIB experienced a value decline and reached $0.00002195, from $0.00002308; on March 11, 2022, SHIB/USD lost further momentum and obtained a decreasing movement the following day.

Today, on March 12, 2022, the price has been experiencing fluctuations, causing the price of SHIB to crash to the $0.00002240 mark. Furthermore, the cryptocurrency shows consistent dynamics now and is following a slight upward trend. SHIB currently trades at $0.00002240 and has been up 0.12% in the last 24-hours with a trading volume of $676,269,617. SHIB currently ranks #15 with a live market cap of $12,305,787,099.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis revealed the market following a bearish trend. However, the market volatility decreases slightly, forcing the resistance and the support to move closer, making the cryptocurrency’s price less prone to volatility fluctuations. Consequently, the upper limit of the Bollinger’s band is present at $0.00002439, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002238, which acts as the strongest support for SHIB.

The SHIB/USD price appears to be crossing under the Moving Average curve, making the market bearish. Moreover, the price seems to move upward, almost traveling over the MA curve. If the price crosses over, it will shift the market dynamic in favor of bulls.

Shiba Inu price analysis: SHIB consistent at $0.00002240 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 41, making SHIB/USD fall in the stable region. However, the RSI follows an upward trend indicating an increasing market and dominance of buying activity.

Shiba Inu price analysis for 1-day: Market enters a squeeze

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a massive declining trend, making Shiba Inu’s price less vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00002668, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002160, which acts as the strongest support for SHIB.

The SHIB/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. On the other hand, the price seems to follow a slight upward activity, showing an increasing market.

Shiba Inu price analysis: SHIB consistent at $0.00002240 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 41, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Therefore, following an upward approach signals an increasing market and represents the buying activity exceeding the selling activity, causing the RSI score to increase.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis reveals the market following a shaky bearish movement, showing room for a future increase in Shiba Inu’s value. The bears currently dominate the market but are likely to be taken out by the bulls. As a result, the market offers massive room for increasing activity, stabilizing SHIB, and gaining value.

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.

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