With the continuation of the Russian-Ukrainian crisis, the US and European countries took some sanctions against Russia, which resulted in a decrease of approximately 30% in the value of the Russian ruble against the dollar. These sanctions brought to mind the questions of whether there is a turn towards cryptocurrencies.
In addition, the latest news that the Glenrose Rehabilitation Hospital Foundation in Alberta, Canada is accepting donations in cryptocurrency, including Shiba Inu, has come to the fore.
When we look at the technical data; We can see that Shiba has been on an ascending trend zone since September 7 and has not broken below this trend yet.
However, when we look at the trend direction in terms of Bolinger bands, the current price is below the average price, that is, the 20-day average, which is the middle band.
An upper resistance zone can be followed with the price breaking both the middle band and the upper band and holding above the band gap resistance area of $0.000031 and $0.000036.
At the same time, when we look at the macd indicator, which shows the relationship between the trend direction and momentum, we can see that there is no intersection in the buying direction yet.
A lower support level can be followed if the band gap of $0.000017 and $0.0000020 of the demand region, where the price is currently located, is suppressed by the sellers.
Another scenario is that buyers accumulate in this region and if a strong momentum can be achieved in this region, it may be possible to see positive reflections on the price.
As a result, we see that the Russia-Ukraine crisis, which is on the agenda these days, is an important factor in the uncertainties on the general money markets.
The continuation of the sanctions and the negative impact of these sanctions on the markets and the possibility of decrease and loss of value should also be taken into consideration.