Shiba Inu holds prices above $0.000025: What to expect?

Shiba Inu price analysis for April 21, 2022, confirms that the meme coin is currently holding price action above the $0.000025 price region which means that investors can expect a move towards $0.000026 in the near future as well. As noted in our SHIB price analysis for April 20, 2022, the token has major resistance at the $0.000026 which the bulls have failed to break on multiple occasions. It seems that the chances of another drop in the near future are increasing as well. 

The data from CoinMarketCap shows that the trading volume for SHIB has jumped 9.75% in the last 24 hours, while the market cap of the token has dropped by 1.09% in the same duration. Moreover, the Volume / Market Cap Ratio stands at a value of 0.04241, while the Market Dominance of the token dropped 0.71%. 

The daily candle for Shiba Inu opened at a price of $0.00002452 and reached a daily high of $0.00002516. Moreover, the daily low for the token stands at a price of $0.00002481. The price of 1 SHIB at the time of writing is $0.00002497.

Shiba Inu price analysis on the daily chart for April 21

Shiba Inu price analysis for April 21 will take into consideration the data from the indicators integrated into the daily chart below.

Source: TradingView

The RSI indicator reads a value below 50 which confirms that the bears are dominating the price action and the gradient of the line suggests that lower prices will follow for Shiba Inu.

The MACD indicator shows that the signal line is very close to the MACD line and bullish divergence might follow if bulls regain control over price action.

The SHIB price action is situated in the middle zone of the Bollinger Bands which means that investors might witness a continued struggle between bears and bulls.

Conclusion

Shiba Inu price analysis for April 21, 2022, ends on a bearish note for the token as investors can expect SHIB to lose $0.000025.