Shiba Inu Price Prediction: SHIB Looks To Push Back Above $0.000030

Daily Shiba Inu SHIB Technical Analysis

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Last Updated February 17th 2022
3 Min Read
  • The Shiba Inu price is down by just over 1% during the ongoing session, as sellers look to push SHIB below $0.000030. 
  • SHIB had registered a fairly strong recovery on Tuesday and had pushed up by almost 6%. 

The Shiba Inu price fell back marginally during the current session as bearish sentiment took over. SHIB had ended the weekend on a fairly positive note, rising by 3.40% and moving to $0.000030. However, the price fell back on Monday as SHIB fell by almost 2%, before recovering, rising by almost 6% on Wednesday and moving to $0.000031, and then dropping back during the ongoing session.

Shiba Inu Price Chart Indicates Sellers Looking To Push SHIB Below $0.000030

SHIB was quite bullish over the previous weekend, rising by 1.40% on Saturday and then surging by almost 27% on Sunday, moving past the 20 and 200-bar SMAs to $0.000028. SHIB continued to push higher on Monday, rising by over 14% and moving to $0.000032 before dropping back on Tuesday, falling by almost 5% and settling at $0.000030. However, SHIB was back in the green on Wednesday, rising by over 6%, before dropping back on Thursday, falling by 6.41% to $0.000030.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 021722

The Shiba Inu price remained in the red on Friday as it dropped by nearly 7%, dropping to $0.000028. At this price level, the 50-day SMA acted as support, and SHIB was able to recover over the weekend, rising by 1.53% on Saturday and then by 3.40% on Sunday to end the weekend at $0.000030. SHIB fell back in the red on Monday, registering a drop of almost 2%, before recovering on Tuesday and rising to $0.000031, an increase of almost 6%. The current session sees SHIB down by almost 2%, as sellers look to drive the price lower.

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

IntoTheBlock’s IOMAP for the Shiba Inu price shows us that SHIB faces strong resistance at around $0.000035. At this price level, over 41,000 addresses have sold more than 20t SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 021722

The 4-hour Shiba Inu price chart shows us that SHIB had pushed up to $0.000033 on the 10th. The price fell back from this level, dropping below the 20-bar SMA and falling to $0.000030. SHIB recovered from this point, rising to $0.000031, but could not move past the 20-bar SMA and fell back, dropping to $0.000028, where the 50-bar SMA acted as support. As a result, the price was able to recover, rising to $0.000029 on the 13th and then surging past the 20-bar SMA, rising to $0.000031. SHIB fell back from this level, dropping below the 20 and 50-bar SMAs and settling at $0.000029 before recovering, rising above the 20-bar SMA and moving to $0.000030. The price fell back from this level, dropping below the 20-bar SMA on the 14th, before recovering and pushing past the 20 and 50-bar SMAs and rising to $0.000031. The price fell back from this level and dropped to its current level of $0.000030.

We can see that the MACD and Parabolic SAR are bullish, but if the price continues to drop, we could see them flip to bearish.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 021722

Shiba Inu Price Is Expected To Reach These Levels

Looking at the Shiba Inu price chart, we can see that SHIB has dropped considerably during the ongoing session, with SHIB down by almost 2%. If the current sentiment persists, we could see SHIB slip below the $0.000030 level.