price of shiba inu Today’s analysis is somewhat balanced and the market looks very indecisive. Starting with healthy price action, SHIB/USD has since reached $0.00001250. But the pump was short-lived, and within hours he plummeted to $0.00001119.
There are bullish signs across the market today. On the crypto heat map we can see that BTC increased by 0.88%. ethereum about the same level.other currencies such as ripple When Cardanois also slightly higher.
However, Shiba Inu’s price analysis shows that there are many indecisive points. The Shiba Inu’s current price is near yesterday’s close, although the market was very volatile today. Does this indicate that the bull is already exhausted? Well, it certainly looks like it.
Shiba Inu 24-hour price action: SHIB/USD is quite volatile today
The Shiba Inu has moved up significantly from yesterday’s lows of $0.00001175, setting a new resistance at $0.00001250. At the same time, we can expect strong support near $0.00001171.
Therefore, it can be said that today’s Shiba Inu is very unstable. However, despite being bullish for the most part, the market now seems to be starting to fall. The market capitalization he has decreased by 0.67% and now he is at $6,707,946,434. Similarly, trading volume decreased by 0.83%.
It is only a matter of time before the bears dominate and push the price further down. Resistance has been particularly strong over the past two days. Despite the market trying to rally, strong bearish momentum continued to pull it down after a short interval.
4-Hour Shiba Inu Price Analysis: Is SHIB/USD Gearing Up for Downhill?
The 4-hour Shiba Inu price analysis chart gives a clearer picture of what to expect. The last four hours have been somewhat bearish for the Shiba Inu. Before that, we can see the SHIB/USD consistency rising from $0.00001175 to $0.00001250 in line with the market’s bullish momentum.
But now we can see clear signs that the bullish momentum has run out. It is certain that the bearish momentum is slowly taking over. Therefore, we may not see overall price action in the next few hours.
Shiba Inu Price Analysis: Conclusion
The crypto market has been mostly bullish for the last 24 hours. But the bull is now exhausted. Market conditions aren’t particularly bearish right now, but they clearly show that a bear market could take over at any moment. Not the best time to buy a Shiba Inu if you are looking for a short-term hold.
The bear market certainly hasn’t stopped crypto enthusiasts from making memes. See our recent article on best crypto memes To brighten your mood.
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