- The Shiba Inu price is up by over 2% during the ongoing session, as buyers return to the market after a bearish weekend.
- SHIB was quite bearish during recent sessions and had dropped by over 4% on Sunday, falling to $0.000023.
The Shiba Inu price is back in the green during the current session, with SHIB registering an increase of over 2% and starting the week on a positive note. SHIB had registered a drop of over 4% on Thursday but recovered on Friday, rising by 4.36% and moving to $0.000024. The price fell back in the red over the weekend, falling by 1.77% on Saturday and then dropping by 4.17% on Sunday to end the weekend at $0.000023 before recovering during the ongoing session.
Shiba Inu Price Chart Indicates SHIB Looking To Push To $0.000025
The Shiba Inu price chart shows us that SHIB had started the previous weekend on an extremely bearish note, dropping by over 2% on Saturday. SHIB continued to drop on Sunday, dropping below all three SMAs and ending the weekend at $0.000025. Monday saw SHIB remain in the red, dropping by nearly 6%, falling to $0.000024 before recovering on Tuesday, rising by 3.74%. However, SHIB fell back in the red on Wednesday, registering a marginal drop of 0.36%.
Image: SHIB/USDT daily
After registering a marginal drop on Wednesday, the Shiba Inu price fell back considerably on Thursday, dropping by over 4% to $0.124 after a highly volatile session. However, the price recovered on Friday, pushing up by over 4% and moving to $0.000024. Despite the fairly significant increase on Friday, SHIB fell back in the red over the weekend, dropping by 1.77% on Saturday and then over 4% on Sunday to end the weekend on a bearish note at $0.000023 before recovering during the current session.
We can see that the MACD is currently bearish, but if SHIB manages to push beyond $0.000025, we could see it flip to bullish.
Looking at IntoTheBlock’s IOMAP for the Shiba Inu price chart, we can see that SHIB faces strong resistance at around $0.000025. At this price level, over 23,000 addresses have sold more than 61t SHIB. SHIB also has strong support at around $0.000021, where over 15,000 addresses have bought over 26t SHIB.
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Looking at the 4-hour Shiba Inu price chart, we can see that SHIB had pushed up to $0.000026 on the 23rd. The price fell back from this level, dropping below the 20 and 200-bar SMAs and falling to $0.000024. SHIB remained bearish after falling to this price and dropped to $0.000021 on the 24th. The price made a fairly strong recovery from this level, pushing back above the 20-bar SMA and moving to $0.000025 on the 26th. The price fell back from this level, dropping to $0.000023, where the 20-bar SMA acted as support. As a result, the price pushed back up, rising to $0.000024 on the 27th. The 50-bar SMA came into play at this level, and SHIB fell back below the 20-bar SMA, dropping to $0.000023 and then moving to its current level of $0.000023. We can see that the Parabolic SAR is currently bullish, indicating that we could see the price push higher.
Image: SHIB/USDT 4-hour
Shiba Inu Price Is Expected To Reach These Levels
The Shiba Inu price chart shows that SHIB has made a fairly strong increase during the current session. If the bullish sentiment persists, we could see SHIB push towards $0.000025. However, if sellers can push the price down, we could see SHIB drop below $0.000023.