Shiba Inu fell back to the $0.000025 price level: Watch out for these levels

Shiba Inu price analysis for April 19, 2022, ends on a bearish note for the token with high chances that the token might lose the meme coin which has now fallen back to the $0.000025 price level. This confirms that investors need to watch out in case SHIB makes another run towards lower levels. On the other hand, the indicators also are in favor of the bearish and sluggish price action being shown by the token. As noted in our SHIB price analysis for April 18, 2022, the token tried to hold above $0.000026 but failed.

The data from CoinMarketCap shows that the trading volume for SHIB has jumped 48.35% in the last 24 hours, while the market cap of the token has jumped by 0.20% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.05062, while the Market Dominance of the token remains at 0.73%. 

The daily candle for Shiba Inu opened at a price of $0.00002524 and reached a daily high of $0.00002550. Moreover, the daily low for the token stands at a price of $0.00002486. The price of 1 SHIB at the time of writing is $0.00002505.

Shiba Inu price analysis on the daily chart for April 19

Shiba Inu price analysis for April 19 will take into consideration the data from the daily chart below which has a few of the biggest indicators integrated into it.

Source: TradingView

The RSI indicator reads a value below 50 which confirms that the bulls are bringing the fight to the bears and we can expect a reverse in trajectory if bulls take over.

The MACD indicator shows that the signal line is above the MACD line and chances are that we might see a bullish divergence on the daily chart.

The Shiba Inu price trajectory is situated in the lower end of the Bollinger Bands which means that the downtrend continues.

Conclusion

Shiba Inu price analysis for April 19, 2022, ends on a bearish note for the token with increased chances of losing $0.000025.