Shiba Inu Price Prediction: SHIB Fails To Push To $0.000022 As Buyers And Sellers Struggle For Control

Daily Shiba Inu SHIB Technical Analysis

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Last Updated February 3rd 2022
3 Min Read
  • The Shiba Inu price failed to push to $0.000022 as buyers and sellers struggled to take control of the current session. 
  • SHIB has been fairly positive during the ongoing week but had registered a drop of nearly 3% on Sunday. 

The Shiba Inu price is marginally down during the ongoing session, as SHIB failed to push to $0.000020.SHIB had started the weekend on a fairly positive note, rising by over 2% on Saturday before dropping back on Sunday and falling by nearly 3% to $0.000021. SHIB recovered on Monday, rising by 1.52% and then pushing up by 1.21% on Tuesday, before dropping back during the ongoing session, registering a marginal drop. 

Shiba Inu Price Chart Indicates SHIB Could Drop Back To $0.000020 

The Shiba Inu price registered a significant drop during the previous weekend, falling by nearly 8% on Saturday, before recovering and surging by over 9% on Sunday, ending the weekend at $0.000022. The price fell back on Monday, dropping by nearly 6% and dropping to $0.000021. SHIB continued to drop on Tuesday, registering a marginal drop of 0.90% before recovering and rising by 0.43% on Wednesday and then by 0.85% on Thursday. However, SHIB fell back on Friday, dropping by 0.28% and falling to $0.000021.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 020322

The Shiba Inu price recovered on Saturday, as SHIB rose by over 2% before dropping back on Sunday, falling by nearly 3% and ending the weekend at $0.000021. The price recovered on Monday, rising by 1.52% and then pushing up by 1.21% on Tuesday before dropping back during the ongoing session.

We can see that the MACD is bullish, but if the price continues to drop, we could see it flip to bearish.

Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we can see that SHIB faces strong resistance at around $0.000024. At this price level, over 1.44k SHIB have sold more than 49t SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 020322

Looking at the 4-hour Shiba Inu price chart, we can see that SHIB had pushed above the 20-bar SMA on the 25th when it rose to $0.000021. The price continued to push higher from this level, rising to $0.000022. After reaching this level, the price fell back as SHIB slipped back below the 20-bar SMA and fell to $0.000022. The price registered a marginal recovery from this level but could not move past the 20-bar SMA and fell back to $0.000020 on the 28th. SHIB made a fairly strong recovery from this level, pushing above the 20 and 50-bar SMAs and moving to $0.000022 on the 30th. After reaching this level, the price fell back below the 20 and 50-bar SMAs and dropped to $0.000020 before recovering, pushing back above the 20 and 50-bar SMAs to its current level of $0.000021.

We can see that the Parabolic SAR is currently bullish, but if the price drops back, we could see it flip to bearish.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 020322

Shiba Inu Price Is Expected To Reach These Levels

Looking at the Shiba Inu price chart, we can see that SHIB had gotten off to a fairly positive start to the week. The current session sees SHIB marginally down as buyers and sellers struggle to establish control. If sellers manage to retain the session, we could see SHIB drop to $0.000020, but if the price recovers, SHIB could push to $0.000022.