Shiba Inu Technical Analysis: SHIB Moves To $0.000021 After Posting Marginal Recovery 

Daily Shiba Inu SHIB Price Analysis

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Last Updated January 26th 2022
3 Min Read
  • The Shiba Inu price managed to stay above $0.000020 on Tuesday and pushed to $0.000021 during the ongoing session. 
  • SHIB is currently up by just over 2%, as buyers look to establish a bullish sentiment in the market. 

The Shiba Inu price has registered a marginal recovery during the ongoing session, moving to $0.000021 after registering an increase of just over 2%. SHIB had ended the weekend on a fairly positive note, registering an increase of over 9% and settling at $0.000022. However, the price fell back on Monday, dropping by nearly 6% to $0.000021, and then registering a marginal drop on Tuesday, dropping by 0.90%. The current session has seen a marginal recovery, as buyers look to push SHIB above $0.000022. 

Shiba Inu Price Chart Indicates SHIB Could Push To $0.000022

The Shiba Inu started the previous week on an extremely bearish note, dropping by 5.48% on Monday and falling to $0.000028. SHIB continued to drop from this level on Tuesday, falling by 2.64% and then dropping by nearly 3% on Wednesday to settle at $0.000027. Thursday saw the bearish sentiment drag SHIB lower by 3.01%, after which SHIB crashed by nearly 16% on Friday, slipping below the 200-day SMA and settling at $0.000022.

Image: SHIB/USDT daily

Image: SHIB/USDT daily chart 012622

The weekend saw the Shiba Inu price continue to remain bearish on Saturday, as SHIB registered a drop of nearly 8% and dropped to $0.000020. However, despite the bearish sentiment, SHIB was able to recover on Sunday, surging over 9% and ending the weekend at $0.000022. Monday saw SHIB back in the red, as the price fell by 5.61%, and then registered a drop of 0.90% on Tuesday to end the weekend at $0.000021. The current session has seen a marginal recovery as SHIB has pushed up by nearly 3%, looking to move to $0.000022.

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

Looking at IntoTheBlock’s IOMAP for the Shiba Inu price, we can see that SHIB faces strong resistance at around $0.000024. At this price level, over 1.36k addresses have sold more than 48,658 billion SHIB.

Image: IntoTheBlock 

Image: SHIB/USDT volume chart 012622

The 4-hour Shiba Inu price chart shows us that SHIB had dropped to $0.000027 on the 19th. SHIB recovered from here and pushed above the 20-bar SMA, rising to $0.000028, but turned bearish after reaching this level, slipping back below the 20-bar SMA and settling at $0.000025 on the 21st. SHIB continued to drop from this level and fell to $0.000018 before recovering and rising to $0.000023 on the 23rd. However, with the 20-bar SMA acting as resistance, the price fell back, dropping to $0.000019. SHIB was able to make a strong recovery from this level and pushed back up to its current level of $0.000021.

We can see that the Parabolic SAR and MACD are both bullish, indicating that we could see the price push higher.

Image: SHIB/USDT 4-hour

Image: SHIB/USDT 4-hour chart 012622

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 to $0.000022 and above.