- The Shiba Inu price has registered a marginal increase during the current session, as it moves to $0.000031.
- SHIB has had a fairly mixed week so far and had reported an increase of almost 6% on Tuesday.
The Shiba Inu price has registered a marginal increase during the ongoing session, as buyers and sellers look to establish control. SHIB had started the week in the red, dropping by almost 2% on Monday before making a strong recovery on Tuesday, rising by 5.65% and settling at $0.000031. The price fell back on Wednesday, dropping by just over 1%, before recovering during the ongoing session.
Shiba Inu Price Chart Indicates Buyers And Sellers Struggling To Establish Control
The Shiba Inu price started the previous week on a bullish note, pushing past the 50-day SMA after registering an increase of over 14% on Monday. SHIB fell back on Tuesday, as the price fell to $0.000030, before recovering on Wednesday, rising by over 6% and moving to $0.000032. Thursday saw SHIB back in the red, as the price dropped by 6.41%, before registering another sharp drop on Friday and falling to $0.000028.
Image: SHIB/USDT daily
The weekend saw SHIB recover, thanks to the 50-day SMA that acted as support. SHIB pushed up by 1.53% on Sunday and then by over 3% on Sunday to end the weekend at $0.000030. Monday saw SHIB back in the red, as the price dropped by almost 2%, before recovering on Tuesday and pushing up by nearly 6%, rising to $0.000031. The price fell back on Wednesday, dropping by just over 1%, before recovering during the ongoing session.
We can see that the MACD is currently bullish, indicating that we could see the price push higher.
Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we can see that SHIB faces strong resistance at around $0.000036. At this price level, over 46,000 addresses have sold more than 41t SHIB.
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, falling below the 20-bar SMA and dropping to $0.000030. SHIB registered a marginal recovery from this level but could not move past the 20-bar SMA, instead falling to $0.000028, where the 50-bar SMA acted as support. SHIB recovered from this level, rising to $0.000029, before going above the 20-bar SMA and rising to $0.000031 on the 13th. SHIB fell back from this level, dropping below the 20 and 50-bar SMAs and falling to $0.000029. The price made a fairly strong recovery from this level, pushing back above the two SMAs and rising to $0.000031 before dropping back below the 50-bar SMA and falling to $0.000030. SHIB recovered from this level, rising to $0.000032 and then dropping to its current level of $0.000031.
We can see that the MACD and Parabolic SAR are bullish, but if SHIB continues to drop, 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 recovered during the ongoing session. If the current sentiment persists, we could see SHIB push above $0.000031. However, if sellers can reverse the trend, we could see SHIB drop to $0.000030.
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