Shiba Inu Technical Analysis: Buyers Look To Push SHIB Past $0.000040

Daily Shiba Inu Price Analysis

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Last Updated December 28th 2021
3 Min Read
  • The Shiba Inu price is currently up by over 1%, with buyers in control of the session. 
  • SHIB has been facing strong resistance at $0.000040, with the price unable to break past this level. 

The Shiba Inu price has started the week on a fairly bullish note, with SHIB presently up by over 1% during the ongoing session. SHIB had pushed up significantly on Thursday, rising by over 10% and settling at$0.000038. The price fell back on Friday, dropping by over 6% and settling at $0.000036. However, SHIB recovered over the weekend, rising by over 4% on Saturday and 1.41% on Sunday to end the weekend at $0.00038. 

Shiba Inu Price Chart Indicates SHIB Could Push To $0.000040

The Shiba Inu price registered a marginal increase, as it started the previous weekend on a marginally positive note. However, the price was back in the red on Sunday, dropping by over 2% and settling at $0.000030. On Monday, the price recovered, registering a marginal increase, before pushing up by over 5% on Tuesday and settling at $0.000032. The price continued to remain bullish on Wednesday, as SHIB registered an increase of nearly 7% and moved to $0.000035.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 122821

After rising to $0.000035, the Shiba Inu price continued to push up on Thursday, as it moved past the 20-day SMA, rising by over 10% and settling at $0.000038. However, despite the bullish sentiment, the price fell back on Friday, dropping by over 6% and settling at $0.000036. The weekend saw SHIB recover, rising to $0.000037 on Saturday and $0.000038 on Sunday. SHIB continues to remain bullish during the current session, as buyers look to push the price towards $0.000040. We can see that the Parabolic SAR is currently bearish, but if the price continues to push up, we could see it flip to bullish.

IntoTheBlock’s IOMAP for the Shiba Inu price shows us that SHIB has strong support at around $0.000035. At this price level, over 41,000 addresses have bought more than 60,000 billion SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 122821

The 4-hour Shiba Inu price chart shows us that SHIB had pushed above the 50-bar SMA on the 21st when the price rose to $0.000032. The price continued to push up from this level, as the price surged to $0.000037 on the 22nd. With the 200-bar SMA acting as resistance at this level, the price fell back to $0.000035 before surging past the 200-bar SMA and settling at $0.000039. The price fell back from this level, dropping below the 200-bar SMA and settling at $0.000036. The 20-bar SMA was acting as support at this level, and SHIB pushed back up to $0.000037, moving above the 200-bar SMA. From this level, SHIB moved to its current level of $0.000038.

We can see that the MACD is currently bearish, but we could see it slip to bullish if the price recovers.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 122821

Shiba Inu Price Is Expected To Reach These Levels

The Shiba Inu price chart shows us that SHIB has been quite positive over the weekend and during the current session. If buyers can retain the session, we could see SHIB push to $0.000040.