- The Shiba Inu price is currently up by over 3%, as buyers look to push SHIB higher.
- SHIB had gotten off to a fairly bearish start to the week and had dropped by almost 6% on Monday.
The Shiba Inu price continued to push higher during the ongoing session, as sellers look to push SHIB above $0.000025. SHIB had ended the weekend in the red, dropping by over 7% on Sunday, dropping below all three SMAs. On Monday, the price continued to drop, falling by almost 6% before making a relatively strong recovery on Tuesday, rising by nearly 4% to $0.000024. The current session sees SHIB up by over 2%, as buyers look to push SHIB higher.
Shiba Inu Price Chart Indicates SHIB Struggling To Move Past $0.000025
The Shiba Inu price started the previous weekend on a bearish note, dropping by almost 2% on Monday. SHIB made a strong recovery on Tuesday, rising by almost 6% and moving to $0.000031 before dropping back on Wednesday, falling by 1.02% and dropping to $0.000030. Thursday saw SHIB register a significant drop, as the price dropped by almost 8%, falling to $0.000028 and then registering a marginal drop on Friday.
Image: SHIB/USDT daily
The Shiba Inu price continued to drop over the weekend, falling by just over 2% on Saturday and moving to $0.000027. SHIB continued to drop on Sunday, falling below all three SMAs after a drop of over 7%, settling at $0.000025. Monday saw SHIB’s bearish sentiment continue as the price dropped by almost 6% before recovering on Tuesday, rising by nearly 4%. The current session sees SHIB up by over 2%, as buyers look to push the price higher.
We can see that the MACD is currently bearish, but if SHIB continues to push the price higher, we could see it flip to bullish.
IntoTheBlock’s IOMAP for the Shiba Inu price chart shows us that SHIB has strong support at around $0.000025. At this price level, over 16,000 addresses have bought more than 53t SHIB.
The 4-hour Shiba Inu price chart shows us that SHIB had pushed up to $0.000029 on the 18th. The price fell back from this level, dropping to $0.000028. SHIB remained bearish after dropping to this level, falling to $0.000025 on the 20th, where the 200-bar SMA acted as support. As a result, SHIB made a strong recovery, rising to $0.000027, where the 20-bar SMA acted as resistance. As a result, the price fell back considerably, dropping below the 200-bar SMA and dropping to $0.000023 on the 22nd. SHIB recovered from this level, pushing up to $0.000025, before surging past the 20 and 200-bar SMAs, rising to $0.000026, before dropping to its current level of $0.000025.
We can see that the Parabolic SAR and MACD are both bullish, indicating that the price could push higher. However, if the price drops from its current levels, we could see them flip to bearish.
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 has made a fairly strong recovery over the past couple of sessions. If the current bullish sentiment persists, we could see SHIB push past $0.000025. However, sellers push the price down, SHIB could drop below $0.000025.