shiba inu price Analysis shows that the price reached a high of $0.00001249 today but then fell to $0.00001212, revealing an overall bearish pattern. This meme coin has been bearish for a week as the price fell from $0.00001404.
Shiba Inu’s trading volume has fallen by 38% in the last 24 hours, and is currently at 0.05977 as a percentage of market capitalization. The price action is also less positive, down 28%.
But what about the future of this meme coin? Over the past three days, Shiba Inu price analysis has strengthened sideways, with no signs of a near-term uptick.
Shiba Inu’s uncertainty is high and the bull looks exhausted. This is a consistent sentiment across the market.
SHIB/USD 24-Hour Price Analysis – Shiba Inu Continues Flat
The Shiba Inu’s price action over the past 24 hours is nothing noteworthy. Most of the time, price analysis shows a sideways consolidation with a slightly stable RSI. So expect the next few hours to follow the same pattern.
However, we tested support at $0.00001202 and successfully recovered. At the same time, the local resistance is set at $0.00001249.
The MACD histogram is now in red after a 16 hour crossover. This shows that the overall sentiment is still bearish. However, the market may be gaining momentum for an uptrend in the next 24 hours. But given the overall market conditions, it could be short-lived.
4-Hour Shiba Inu Price Analysis: High Movement Uncertainty With Overall Bearish Sentiment
The 4-hour Shiba Inu price analysis gives a slightly more positive image, as the RSI is currently showing a positive slope at 47, suggesting positive price action. However, the MACD line is just ready for a crossover.
Will SHIB/USD revert to $0.00001249 anytime soon? Not likely for the next few hours as the indicators do not paint a very positive picture. However, the RSI is not tilting to either extreme, so we can expect Shiba Inu price analysis to continue bouncing between $0.00001249 and $0.00001202 for now.
Shiba Inu Price Analysis: Conclusion
As the market continues to move sideways, no conclusions can be drawn about Shiba Inu price analysis. The RSI and MACD indicators also do not paint an accurate picture of future behavior. It’s like a tug-of-war between bears and bulls. Either side can win.
However, overall market sentiment is not very positive, so it’s safe to assume that we won’t see any positive price action in the next 24 hours. A bear market is the perfect time to equip yourself with the knowledge you need to take advantage of a bull market.Consider reading a full-fledged guide best crypto to buy in 2022.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com accepts no liability for investments made based on information provided on this page. Independent research and/or consultation with a qualified professional is strongly recommended before making any investment decision.