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Shiba Inu price analysis: SHIB market explodes at $0.00002296 after the market breaks

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TL;DR Breakdown

  • Shiba Inu price analysis is bullish today.
  • Strong resistance at $0.00002536.
  • Trading price of SHIB is $0.00002296.

The Shiba Inu price analysis reveals a continued bullish movement in the market, and the market moves towards a negative direction, declining the price of SHIB significantly. As a result, the cost of SHIB experienced a tremendous value depreciation and reached $0.00002261, from $0.00002447; on March 20, 2022, SHIB/USD shifted to an increasing movement the following day.

Today, on March 21, 2022, the price has been experiencing massive ups and downs, causing the price of SHIB to move up to the $0.00002322 mark just before declining slightly to $0.00002296. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. SHIB currently trades at $0.00002296; as a result, Shiba Inu has been down 4.21% over the previous 24 hours, with a trading volume of $1,039,795,971, ranking #15 with a live market capital of $12,553,905,479.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis revealed the market is following a bearish trend as the market obtains massive volatility, forcing the resistance and the support to move apart from each other; now, the price will follow the volatility to whichever extreme it decides, for now, the price is becoming significantly more prone to volatile change. Consequently, the upper limit of the Bollinger’s band is present at $0.00002483, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002115, 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 downward, indicating a decreasing market.

Shiba Inu price analysis: SHIB market explodes at $0.00002296 after the market breaks 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 50 making SHIB/USD fall in the upper neutral region. However, the price follows an upward trend indicating an increasing market and dominance of buying activity.

Shiba Inu price analysis for 1-day: Market attains consistency

The Shiba Inu price analysis has revealed a bullish market. Moreover, the market’s volatility appears to follow a 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 $0.00002536, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002081, 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. On the other hand, the price seems to be following a linear activity, showing signs of a consistent market. The market appears to be very indecisive; however, according to our analysis, the bulls will prevail long-term.

Shiba Inu price analysis: SHIB market explodes at $0.00002296 after the market breaks 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 46, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Therefore, following a straightforward approach signals a dormant market and represents the selling activity equalling the buying activity, causing the RSI score to decrease.

Shiba Inu Price Analysis Conclusion

The Shiba Inu price analysis reveals the market following bullish movement, showing slight bearish opportunities. As a result, the market offers massive room for increment in the value of SHIB, leading to a bullish future. However, The market also shows strong downside potential, as referenced in the 4-hour analysis. Only time will tell which direction the meme cryptocurrency will shift to.

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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