- The Shiba Inu price is currently up by nearly 7% during the ongoing session, pushing to $0.000022.
- SHIB had been incredibly bearish in recent sessions but has managed to stem the bearish sentiment during the current week.
The Shiba Inu price rose to $0.000022 during the ongoing session as buyers returned to the market. SHIB had ended the weekend on a fairly positive note, registering an increase of over 9% and ending Sunday at $0.000022. However, the price fell back on Monday, dropping by 5.61%, and then registered a marginal drop on Tuesday, falling by 0.90% and settling at $0.000021, before making a strong recovery during the ongoing session.
Shiba Inu Price Chart Indicates SHIB Looking To Push Above $0.000022
The Shiba Inu price was extremely bearish during the previous week and had started Monday with a drop of 5.48%, falling to $0.000028. The price continued to drop from this level, falling by 2.64% on Tuesday and then dropping by nearly 3% on Wednesday, dropping to $0.000027. SHIB dropped further on Thursday, falling by 3.01%, and then slipped below the 200-day SMA on Friday, when the price fell by nearly 16% to $0.000022.
Image: SHIB/USDT daily
The Shiba Inu price remained bearish on Saturday as well, dropping by nearly 8% and settling at $0.000020. However, SHIB was able to register a recovery on Sunday, rising by 9.40% and ending the weekend at $0.000022. The current week started with SHIB back in the red, falling by 5.61% on Monday and then dropping by 0.90% on Tuesday to settle at $0.000021. The current session sees SHIB at $0.000022, as buyers look to push the price above $0.000022.
The MACD is currently still bearish, but if the price continues to push higher, we could see it flip to bullish.
IntoTheBlock’s IOMAP for the Shiba Inu price shows that SHIB faces strong resistance at around $0.000024. At this price level, over 1.27k addresses have sold more than 49,217 billion SHIB.
The 4-hour Shiba Inu price chart shows us that SHIB had pushed above the 20-bar SMA on the 20th, rising to $0.000028. However, SHIB could not stay at this level and fell back significantly, slipping below the 20-bar SMA and dropping to $0.000025. SHIB continued to drop from this level, falling below $0.000020 and dropping to $0.000018 on the 22nd. The price made a strong recovery from this level, rising to $0.000023, where the 20-bar SMA was acting as resistance. As a result, SHIB fell back, dropping to $0.000019 on the 24th. SHIB was able to make a strong recovery from this level, rising to $0.000021 and then pushing above the 20-bar SMA and moving to its current level of $0.000022.
We can see that the MACD and Parabolic SAR are both 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
Looking at the Shiba Inu price chart, we can see that SHIB has registered a fairly significant increase during the ongoing session. If the current sentiment persists, we could see SHIB push above $0.000022.