Shiba Inu price analysis: SHIB gains value at $0.00002414

TL;DR Breakdown

• Shiba Inu price analysis is bearish today.
• Strong resistance at $0.00003083.
• Trading price of SHIB is $0.00002325.

Today’s Shiba Inu price analysis reveals a shaky bearish movement in the market, and the market moves towards a positive direction, raising the price of SHIB significantly. As a result, the cost of SHIB experienced a value decrease and reached $0.00002323, from $0.00002522; on March 4, 2022, SHIB/USD shifted to an increasing movement the following day.

Today, on March 5, 2022, the price has been experiencing massive ups, causing the price of SHIB to move up to the $0.00002414 mark. Furthermore, the cryptocurrency shows upside potential and is following an upward trend, which means it will reach its goal sooner than expected. SHIB currently trades at $0.00002414. As a result, Shiba Inu has been up 2.63% over the previous 24 hours, with a trading volume of $938,706,045, ranking #15 with a live market capital of $13,256,528,943.

SHIB/USD 4-hour analysis: Recent developments

The Shiba Inu price analysis revealed the market following a bearish trend as the market volatility decreases as the market opens up, forcing the resistance and the support to move further away from each other; now, it is less prone to volatile change of either exchange. Consequently, the upper limit of the Bollinger’s band is present at $0.00002694, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002325, 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 upwards, indicating an increasing market.

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 41, making SHIB/USD fall in the upper-stable region. However, the price follows a linear trend indicating a stable market and equivalence of buying and selling activity.

Shiba Inu price analysis for 1-day: Market remains dormant

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 $0.00003083, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002150, 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 be following a downward activity, showing signs of a decreasing market.

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 44, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region. Following an upward approach, signals increasing movement and represent 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 bearish movement, showing further bearish possibilities. The bears currently dominate the market and are likely to keep controlling. However, the market offers massive room for a reversal, leading to a bullish future.

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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• Source: https://www.cryptopolitan.com/shiba-inu-price-analysis-2022-03-05/