- Shiba Inu shows a bullish candle, but its price is 1.77% down in 24 hours.
- The coin is also 10% down compared to December 18.
- SHIB is currently trading at $0.000008388.
After the red signal in the past day, the crypto market shows a slight surge. But, all the coins did not reflect green, as of now. Shiba Inu (SHIB), Dogecoin (DOGE), and Cardano (ADA) are some of the coins that are in red now.
Although SHIB currently holds a green candle, its price is 1.77% down in the past 24 hours and trades at $0.000008388, at press time. SHIB trades above the past day’s lowest price of $0.00000790. However, the coin shows a significant 10% decline since December 18.
If the current green candle touches the 20-day EMA line, SHIB would see an uptick at
$0.00000885. Beginning from December 12, SHIB could not hold the support zone of $0.00000895, making it plunge to the past day’s lowest point.
As mentioned, if SHIB shoots above the 20-day EMA line, then it is expected to break the $0.00000895 support zone. The price analysis of the coin indicates that bulls are performing their role in the market amid the price being low in the past 24 hours.
Notably, although SHIB staged a red candle in the past day, it experienced a surge as Binance listed the coin in the third position on the list of “three most-watched cryptos in 2022”.
In the chart above, the upper value of the Bollinger Bands (BB) for SHIB is $0.00000977, and the lower value is $0.00000815. Also, the BB is currently wide, and the candle is near the lower band. This signals that the price is in the oversold territory. However, if the green candle points up in the coming hours, bulls can regain their momentum, and the price would go higher. The RSI value of SHIB reads 41.77, as there are more sellers in the market.
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