$SHIB
🚨Shiba Inu (SHIB) Price Analysis🚨
Shiba Inu at the time of press is changing hands at $0.00001171, with a 1.36% dip in the past 24 hours and a sharper 12.68% decline over the week. Its market cap has slipped to $6.9 billion, while the intraday trading volume hovers around $153.42 million, showing a minor 0.60% decrease.
On the 4-hour chart, SHIB is struggling below the 20-period SMA Bollinger Band midpoint at $0.00001194. The price hugging the lower Bollinger band reflects persisting downward pressure. However, a slight bounce from $0.00001152 hints at reactive buying interest.
The RSI stands at 42.30, inching upward from oversold levels, suggesting early signs of bullish divergence. However, the RSI being below the neutral 50 mark indicates that sellers still hold dominance. Technically speaking, I believe a break above $0.00001194 would be the first bullish signal. Contrarily, a fall below $0.00001137 could open the door to the psychological support zone at $0.00001100
