- The Shiba Inu price was unable to move to $0.000040, with SHIB registering a marginal drop during the current session.
- SHIB had been quite bullish during the previous week and had risen by over 10% on Thursday.
The Shiba Inu price fell back during the current session, as the wait to push to $0.000040 continues. SHIB has been unable to move past the 50-day SMA so far. SHIB had registered a significant increase on Thursday, as the price rose by over 10% and settled at $0.000038. However, the price fell back on Friday, falling by over 6%. The weekend saw SHIB recover, as it rose to $0.000037 on Saturday and then to $0.000038 on Sunday. The current session sees buyers and sellers struggling for control, with the price marginally up.
Shiba Inu Price Chart Indicates Buyers And Sellers Struggling For Control
The Shiba Inu price started the previous weekend on a fairly bearish note, dropping by nearly 5% and settling at $0.000031. SHIB registered a marginal recovery on Saturday but fell back in the red on Sunday, dropping to $0.000030 after falling by over 2%. However, Monday saw SHIB back in the green, rising by 1.46% and settling at $0.000031. On Tuesday, the price continued to push up, rising by over 5% and settling at $0.000032, before pushing above the 20-day SMA on Wednesday and settling at $0.000035.
Image: SHIB/USDT daily
After rising to $0.000035 on Wednesday, the Shiba Inu price registered a significant increase on Thursday, rising by over 10% and settling at $0.000038. However, despite the bullish sentiment, the price fell back on Friday, dropping by over 6% and settling at $0.000036. SHIB recovered over the weekend, rising by over 4% and settling at $0.000037 before a marginal increase on Sunday took the price to $0.000038. The current session sees SHIB at $0.000038, with buyers and sellers looking to control the market.
IntoTheBlock’s IOMAP for the Shiba Inu price shows us that SHIB has strong support at around $0.000034. At this price level, over 11,000 addresses have bought more than 55,300 billion SHIB.
Image: IntoTheBlock
The 4-hour Shiba Inu price chart shows us that SHIB had pushed up to $0.000031 on the 20th, moving above the 20-bar SMA. The price continued to push up from this level, rising above the 50-bar SMA on the 22nd, settling at $0.000032, then moving to $0.000037 on the 22nd. At this level, the 200-bar SMA was acting as resistance, and the price dropped to $0.000035 before surging past the 200-bar SMA and settling at $0.000039 on the 24th. The price fell from this level, going below the 200-bar SMA and dropping to $0.000036, where the 20-bar SMA acted as support. As a result, the price pushed back above the 200-bar SMA, rising to its current level of $0.000038.
We can see that the MACD is currently bearish, indicating that we could see the price drop further.
Image: SHIB/USDT 4-hour
Shiba Inu Price Is Expected To Reach These Levels
The Shiba Inu price chart shows us that SHIB has dropped marginally during the ongoing session, with buyers and sellers looking to control the session. If the price continues to drop, we could see SHIB drop towards $0.000035. However, if buyers retake the session, SHIB could push to $0.000040.