Shiba Inu price analysis: SHIB advances upwards at $0.00000822 after bullish movement

Shiba Inu price analysis displays partial bearish movement in the market, and the market moves towards a somewhat upward direction, raising the price of SHIB. After that, however, the cost of SHIB experienced an increment and reached $0.00000830, from $0.00000803; on June 16, 2022, SHIB/USD gained further momentum and obtained a further increasing movement the following day.

Today, on June 17, 2022, the price has been experiencing a strong uptrend, causing the price of SHIB to move over the $0.00000820 mark. Furthermore, the cryptocurrency shows upside potential and is following an upward trend. SHIB currently trades at $0.00000822 and has been up 1.01% in the last 24-hours with a trading volume of $294,720,199. SHIB currently ranks #17 with a live market cap of $4,520,062,739.

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SHIB/USD 4-hour analysis: Recent developments

Shiba Inu price analysis revealed the market is following a bullish trend. However, the market volatility decreases, forcing the resistance and the support to move towards each other, making the cryptocurrency’s price less prone to volatility fluctuations. Consequently, the Bollinger’s band’s upper limit is at $0.00000864, which acts as a support point for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00000771, which acts as another support point for SHIB.

The SHIB/USD price appears to be crossing over the Moving Average curve, making the market bullish. Therefore, the market shows immense consistent opportunities and possibly favors the bulls. However, the price is expected to shift toward a downward movement under the moving average curve, causing a possible breakout in the market.

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SHIB/USD 4-hour price chart source: TradingView

Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 46, making SHIB/USD fall in the lower neutral region. However, the RSI follows an upward trend indicating a favorable market and dominance of buying activity. Finally, however, the market moves towards complete stability.

Shiba Inu price analysis for 1-day

Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow an upward 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 $0.000001273, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00000747, which acts as the strongest support point 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 indicate future upward activity, showing a constantly increasing market. As a result, the price attempts to cross the moving average curve, which will cause a reversal in the market.

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SHIB/USD 1-day price chart source: TradingView

Shiba Inu price analysis reveals the Relative Strength Index (RSI) score of 31, signifying a severely undervalued cryptocurrency. Furthermore, the RSI falls under the devaluation threshold. Therefore, following an upward approach signals increasing characteristics and represents the dominance of buying activity.

Shiba Inu Price Analysis Conclusion

Shiba Inu price analysis reveals the market to have entered a partial bearish movement, showing room for a reversal of Shiba Inu. Furthermore, the bears currently dominate the market and are not likely to maintain it. As a result, the market offers massive room for further increasing activity, stabilizing SHIB, and gaining more value.

Disclaimer. The information provided is not trading advice. 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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