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Shiba Inu price analysis: SHIB struggles for $0.00002120

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TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • The strongest resistance is present at $0.00002926.
  • Trading price of SHIB is $0.00002113

The Shiba Inu price analysis reveals that the cryptocurrency has entered a bearish market and will maintain this movement. Although bulls have dominated the market for the last 48-hours, bears managed to reclaim the market and are on their way to declining the price of SHIB to a significant degree. Following yesterday’s price crash, the price of SHIB declined significantly and reached $0.00002014, from $0.00002080.

On February 4, 2022, the price spiked again to the $0.00002120 mark and remained around that threshold. Soon after, the price increased and reached $0.00002110 while gaining some value. SHIB currently trades at $0.00002110, with a trading volume of $425,681,026. Shiba Inu has been up by 3.50% in the last 24 hours. SHIB currently ranks #15 with a live market cap of $11,632,619,165.

SHIB/USD 4-hour price analysis: Latest developments

The Shiba Inu price analysis has revealed the market following a bullish trend with shrinking volatility, making the cryptocurrency’s price less vulnerable to volatile change. However, it seems the market has tightened the squeeze, making a reversal imminent. The upper limit of the Bollinger’s band is present at $0.00002209, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002010, 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. As a result, the price has entered the bullish zone and is likely to continue with this momentum. For the last few hours, the Shiba Inu market has experienced a bearish trend, but the bulls have finally pulled through, and with the volatility on the down-low, it is even more favorable for the bulls. The price seems to move upwards towards the resistance, and with the volatility decreasing, the price and resistance might meet soon.

Shiba Inu price analysis: SHIB struggles for $0.00002120 1
SHIB/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) score is 51, making the cryptocurrency fall in the upper neutral zone, showing no signs of devaluation or inflation. However, the RSI score seems to be moving upwards, signifying movement towards increasing value and dominance of buying activity.

Shiba Inu price analysis for 24-hours: Market tightens

The Shiba Inu price analysis has revealed a bearish market with bullish potential. Moreover, the market’s volatility appears to follow a decreasing trend, making Shiba Inu’s price less prone to volatile change. As a result, the upper limit of the Bollinger’s band is present at $0.00002926, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00001681, 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. In addition, the support and resistance bands seem to be closing the gap between them, indicating a tightening market. The price appears to move slightly downwards, indicating further bearish activity and devaluation.

Shiba Inu price analysis: SHIB struggles for $0.00002120 2
SHIB/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) score is 35, signifying the devaluation of the cryptocurrency, and the RSI falls in the undervalued zone. However, the RSI appears to be following an upwards trend pointing towards stable dynamics and dominant buying activity. However, the bears will not stop until the cryptocurrency has depreciated fully.

Shiba Inu Price Analysis Conclusion:

The Shiba Inu price analysis concludes that the cryptocurrency follows a rocky bearish trend. The cryptocurrency has shown room for bullish activity. The volatility decreases as bulls fight for the market and are somewhat succeeding. The future might be bullish for SHIB, but the bears currently hold all the cards.

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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