- The Shiba INU price closed the previous day trade at $0.00002499 with a market capitalization of $13.67 billion with a circulating supply of 549,063.28 billion SHIB
- SHIB price broke out from the descending trend in the early trading hours, yet the possibility of a fakeout may not be completely nullified
- The asset may drop more than 6%-7% if in case it fails to maintain a bullish momentum to hit the local support levels
Shiba INU(SHIB)/USDT Technical Analysis at a Glance
Shiba INU price maintained a notable depleting trend since the beginning of November 2021 which is flipped recently after a failed attempt. Since the last few days of January, the asset is maintaining a healthy consolidation which may result in a significant breakout very soon. However the higher time frame chart is pretty much skeptical but in the short term, the asset is extremely bullish and hence appears to be poised to surge & sustain above $100.
|Short-Term||The SHIB price after undergoing a huge bearish trend flipped and is currently raising high accumulating a notable buying volume|
|Mid-Term||In the mid-term, the price is on the verge to flip from the bearish well and hence a notable uptrend may be witnessed in the next couple of days|
|Long-Term||The price is maintaining a constant trend, swinging within a very narrow range and hence the next leg may be dependent on the upcoming volume|
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||49.41 / 46.33||Neutral / Neutral|
|MACD(12,26)||0.0 / 0.0||Neutral / Neutral|
|Average Directional Index(ADX)||33.21 / 22.98||Buy / Sell|
|Bull-Bear Power||0.0001 / 0.0||Buy / Neutral|
The SHIB price in recent times is showcasing huge volatility but plunging towards the lower levels. And hence showcasing a bearish momentum as the RSI in both the time frames is hovering within the middle levels. It is pretty uncertain about th next move and may flow according to the induced volume.
Also, the MACD is bearish as not strong buying volume has been accumulated neither in STF nor HTF. On the other hand, the rally is gaining strength in the short term while becoming pretty weak in the long term. And hence the bulls may gain some power yet could lose to the bears in the long term.
The SHIB price at the press time is very close to the 50-day MA levels and could test them in the next couple of hours. The 200-day MA levels are currently acting as local support levels which may hold the price strong in case of a plunge. As the SHIB price surpasses the local resistance, then it may test the 50-day MA in short term and then in the long term.
Yet the most crucial resistance at the 200-day MA in the long term may flip the bearish trend completely. The possibility of a strong uptrend may be ignited here which may test the long-term resistance levels. The long-term resistance levels are extremely crucial as the SHIB price has reversed its trend several times around these levels. And hence a possibility of a strong pullback may haunt the price here. If sustained at these levels, then a bull run could be imminent.
|Average True Range(ATR)||0.0||0.0|
The Stochastic oscillators is a little bullish currently signifying that the current price is above the average price and may remain bullish in long term too. On the other hand, the ultimate oscillator which considers 3 different MA levels to analyze the next price movement is bullish in the short term while bearish in the long term. The CCI which points out a new trend or a reversal is also bullish current but the asset is extremely volatile. Therefore it may be pretty risky to enter any deal until the asset secures its position.
SHIB /USDT Technical-Analysis for Short-Term
- The Shiba INU price after hitting the bottom levels has rebounded firmly and following a notable uptrend
- The price is currently swinging within an ascending triangle but is still pretty distinct from the apex of the triangle
- However, the price may witness a surge towards $0.00002700 levels and quickly plunge back to $0.00002500 levels to reach the apex
- Once the price breaks out of the apex, yet may halt its uptrend just below $0.0000300. Yet the asset needs to stand strong and clear these levels to continue to head towards the strong resistance levels.
SHIB/USDT Technical Analysis for Long-Term
- While SHIB price in the short time frame is bullish but in the larger time frame it is significantly bearish
- The price is maintaining a descending trend stepwise and heading towards the lower strong support zone in between $0.00002261 and $0.00002068
- A notable flip may be expected within these regions after swinging for some while. Or else if the price fails to sustain a deeper plunge may be imminent
- The asset may initially slice through the strong support levels and continue plunging towards the south to hit the next support around $0.00001687 where-in a flip could be ignited
Shiba INU(SHIB)/USDT Technical-Analysis for Today: 02 March 2022
Shiba INU price ever since flipped from the lows is going parabolic but the inverse manner, hitting the lower trend line again and again. However, after a steep surge during the beginning of March, the SHIB price quickly inculcated a downtrend within a descending parallel channel. Multiple attempts of breaching through the levels have failed including the most recent one that can drag the price by a notable margin.
The Shiba INU (SHIB) price at the press time is around $0.00002505 with a drop of around 1.85% compared to the previous day’s close. The trading volume also has slashed by 13.67% and the market capitalization is plunged by more than 1%.
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