Shiba Inu (SHIB/USD) Stuck Below $0.00003100 – Price Analysis

  • SHIB price analysis displays bullishness today.
  • Massive resistance sits at $0.00003597.
  • Shiba Inu’s critical support is $0.00002961.

Shiba Inu (SHIB) token seems to join a bull market with slight reversal chances. Indeed, bears dominated the meme coin over the last few weeks. However, bulls stepped up vigorously, recapturing the market. Now, market players wait to see whether SHIB will keep the upward momentum. Yesterday’s price actions saw Shiba Inu on positive moves, rising from $0.00003094 to $0.00003069.

On 15 January 2022, SHIB’s price fluctuated near the $0.00003100 level. The canine-themed crypto seemed to keep the momentum today, wavering around $0.00003071 at this publication. That way, experts believe Shiba Inu might show bullishness in the upcoming sessions.

SHIB 4Hr Analysis – Recent Developments

SHIB’s price analysis shows the market entered a bullish territory as volatility shrinks, reducing Shiba Inu’s vulnerability to volatile changes. Meanwhile, the Bollinger band’s upper limit represents the assets resistance at $0.00003216. On the other side, Bollinger’s lower limit of $0.00002961 represents Shiba Inu’s crucial support floor.

The market seems to enter a squeeze as the resistance and support bands look to close on each other, authorizing volatility. Meanwhile, bulls have the opportunity to reclaim the marketplace after the compression ends even if bearish dominate the overall market.

SHIB/USD seems to cross below the MA curve, confirming a bearish market. Bears seem to tighten their place, but no one knows whether they’ll keep the momentum. The past few hours had SHIB’s market experiencing fluctuations between bullish and bearish trends. Meanwhile, the meme coin decided to favor bearishness. Moreover, the decreasing volatility shows SHIB is vulnerable to maintaining its current bias.

The Relative Strength Index score at 52 makes the token stay in the topside neutral region, depicting no inflation or devaluation signals. Nevertheless, buying activity appears to exceed selling pressure. That makes the indicator’s score escalate.

SHIB’s 24Hr Analysis – Volatility Decreases

SHIB’s price revealed upcoming bullishness and the potential to keep the uptrend. Moreover, the token sees declining volatility, making the token less prone to extreme variable change. Meanwhile, Bollinger’s upper limit around $0.00003597 serves as Shiba Inu’s tremendous resistance. Conversely, the band’s lower limit offers massive support at $0.00002637.

SHIB’s price appears to cross above the MA’s curve, showing bullishness. The bulls might keep the upward move as volatility decreases. Furthermore, the RSI score at 46 shows steady moves by the dog cryptocurrency.

By Edward Richardson
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