- The Shiba Inu price has made a strong recovery during the current session and is currently up by almost 5%.
- SHIB had been bearish towards the end of the week and had dropped to $0.000028 on Friday.
The Shiba Inu price has recovered after slipping to $0.000028 on Friday and is back to $0.00030 during the ongoing session. SHIB had registered a significant fall on Thursday, dropping by over 6% to $0.000030. The price continued to drop on Friday, as it fell to $0.000028 before recovering on Saturday, rising by 1.53% and moving to $0.000029. The current session sees SHIB up by over 4%, as buyers look to push the price higher.
Shiba Inu Price Chart Indicates SHIB Looking To Push Above $0.000030
The Shiba Inu price was extremely bullish over the previous weekend, rising by almost 7% on Friday. The weekend saw SHIB remain bullish, registering a marginal increase on Saturday, before surging by almost 27% on Sunday, pushing past the 20 and 200-bar SMAs and ending the weekend at $0.000028. Monday saw SHIB continue to move higher, rising by over 14%, pushing above the 50-bar SMA, and rising to $0.000032. The price fell back on Tuesday, falling by nearly 5% and falling to $0.000030.
Image: SHIB/USDT daily
The Shiba Inu price was able to make recover on Wednesday, rising by over 6% and moving to $0.000032. However, the price fell back on Thursday, dropping by 6.41% and then falling by nearly 7% on Friday to settle at $0.000028. SHIB registered a recovery on Saturday, rising by 1.53%, before pushing to $0.000030 during the ongoing session.
We can see that the MACD is currently bullish, indicating that we could see the price push higher.
Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we can see that SHIB faces strong resistance at around $0.000035. At this price level, over 16,000 addresses have sold more than 20t SHIB.
Looking at the 4-hour Shiba Inu price chart, we can see that SHIB had pushed up to $0.000031 on the 7th. The price continued to push higher from this level, rising to $0.000034, before dropping back and falling to $0.000030. SHIB was able to recover from this level, rising to $0.000033 before registering a marginal drop and falling to $0.000032 on the 10th. SHIB continued to drop from this level, falling below the 20-bar SMA and falling to $0.000028 on the 12th. At this level, the 50-bar SMA acted as support, and SHIB pushed to $0.000031 on the 13th, pushing above the 20-bar SMA, then dropping to its current level of $0.000032.
We can see that the MACD has flipped to bullish, indicating that we could see the price push higher.
Image: SHIB/USDT 4-hour
Shiba Inu Price Is Expected To Reach These Levels
Looking at the Shiba Inu price chart, we see that SHIB had recovered over the weekend and is currently at $0.000030. If buyers retain control, we could see SHIB push above $0.000030. However, if sellers can push the price down, we could see SHB drop below $0.000030.