Shiba Inu prices rebound from $0.000020: Signs of trend reversal

Shiba Inu token has seen a 5% price surge in the last 24 hours and turned bullish. However, as noted in our SHIB price analysis for Feb 24, the token dropped to the 15th position in the market. It is to be noted that the SHIB price analysis for Feb 25, the $0.00020 price level remains as major support for the meme coin. 

The data from CoinMarketCap shows that the trading volume of the token has surged 8.18% in the last 24 hours, followed by a 9.27% in the market cap. It is also important to note that the Market Dominance for Shiba Inu rests at 0.76%, while the Volume / Market Cap Ratio stands at a value of 0.2011.

The daily candle for Shiba Inu opened at a price of $0.0002385 and reached a daily high of $0.00002472. Moreover, the daily low for the token stands at a price of $0.00002348. The price of 1 SHIB at the time of writing is $0.00002378. 

Shiba Inu price analysis for Feb 25 on the daily chart

The Shiba Inu price analysis for Feb 25 on the daily chart will be implemented using three major price indicators, which will provide a hint towards a possible future price movement.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are very close to each other, and there is a strong fight between the bulls and the bears. 

The RSI level is bearish overall and currently reads a value of 40.48. It is important to note that the gradient of the line is also negative, which means lower prices are possible. 

The price action has dropped to the lower zone of the Bollinger Bands, which means that the bears are in control. The chances of a price drop are very high. 

Conclusion

Shiba Inu price analysis for Feb 25, 2022, can be confirmed on a bullish note, but, overall, the price trajectory remains bearish, and prices might drop below $0.000020 in the near future.