Shiba Inu nears the $0.000025 resistance as indicators remain bullish

Shiba Inu price analysis for March 25, 2022, confirms that the token is following a bullish trajectory in the long term but it is important to note that the nearest resistance for the token stands at a price of $0.000025. The SHIB price analysis for March 24, 2022, noted that the token has retained the 15th position in the market and was able to push through into the $0.000024 price region. The token is currently trying to breach the $0.000025 price level.

The data from CoinMarketCap shows that the trading volume for SHIB has dumped 8.25% in the last 24 hours, while the market cap of the token has jumped by 1.40% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.09238, while the Market Dominance of the token rose to 0.68%. 

The daily candle for Shiba Inu opened at a price of $0.00002469 and reached a daily high of $0.00002513. Moreover, the daily low for the token stands at a price of $0.00002432. The price of 1 SHIB at the time of writing is $0.00002486. 

Shiba Inu price analysis on the daily chart for March 25

Shiba Inu price analysis for March 25 will take into account 3 of the biggest indicators in the crypto space as shown in the chart below.

Source: TradingView

The MACD indicator shows that the MACD line is progressing above the signal line while the MACD histogram is also bullish with green bars on the daily chart. 

The RSI indicator reads a value above 55 which means that the bulls are gradually losing their dominance over the bears as the gradient of the line suggests that we might witness higher prices today. 

Furthermore, the Shiba Inu price action aimed to break out of the upper end of the Bollinger Bands and it seems that this attempt might be successful after all./ 

Conclusion

 Shiba Inu price analysis for March 25 ends on a slightly bullish note for the token as bulls gear up to reclaim the $0.000025 price level.