$SHIB
Current Price: $0.0000243
📊Market Sentiment Analysis
The upcoming Shibarium hard fork is creating positive sentiment among investors, which could lead to increased demand for SHIB. Legal issues surrounding Binance founder CZ have created negative sentiment in the market, which could indirectly affect SHIB due to overall market uncertainty. Positive expectations for meme coins, including SHIB, indicate a bullish outlook among retail investors. The recent market sell-off indicates increased volatility and potential investor caution, which could have a negative impact on SHIB's price in the short term.
📈Technical Analysis
The RSI is currently at 37.31, indicating that SHIB is neither overbought nor oversold, but it is leaning towards the oversold region, which could signal a potential buying opportunity. The Bollinger Bands show that the current price is close to the lower band, indicating that SHIB is in a lower volatility range and could be undervalued. The pivot point indicates that the current price is slightly above the pivot point (p), which could act as a support level. DMI shows ADX is 16.05, which is relatively weak, indicating that the current trend is not strong. PDI is lower than MDI, indicating bearish pressure. As the current price is below the recent moving average, the moving average shows a slight downward trend. MACD is below the signal line and both are negative, usually indicating bearish momentum.
Short-term bearish to around 2111, long-term bullish.
