A brief technical and on-chain analysis on Ethereum price. FXStreet's analysts evaluate why ETH could have reached a local bottom.

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Shiba Inu price to erase half of the losses incurred and tag $0.000028

Shiba Inu price has not had much luck in 2022 as price action has been mostly to the downside, with bulls being squeezed out of their positions time and time again, resulting in a 49% loss for the year. Global headwinds are the leading cause of the adverse reaction in Shiba Inu as investors are concerned about the policy tightening of the Fed, and the escalation of tensions between Russia and Europe with no solution anywhere in sight. Now the tide seems to be turning as investors start to look beyond these headwinds and begin seeing opportunities on the horizon. SHIB price sees this reflected in the uptick it has experienced in recent days with higher lows and bulls getting into price action. A further incentive is provided by the Relative Strength Index (RSI) slowly moving away from the oversold area. With the high of yesterday already out of the way, we are likely to see a push above the weekly high nearRead more

 

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