Shiba Inu (SHIB) Filters Bullish Signals from Russia-Ukraine Talks, Eyeing $0.000024 Return

  • SHIB price action remains within the broad triangle with $0.00002100 support and $0.00002700 topside level.
  • The alt sees knee-jerk recovery as peaceful negotiations between Ukraine and Russia suggest a potential relief for the markets.
  • Expect a near-term return to $0.00002400 by SHIB, eyeing an upward aim at $0.00002600, suggesting 11% gains.

Shiba Inu (SHIB) price remained lows within the previous days amid stiff rejections over the past week at 55-day SMA, offering bears two entry levels. Moreover, the strengthened dollar as a haven meant double pressure for the meme coin.

However, news about the 3rd round of peaceful negotiations translated to optimistic sentiment, catalyzing a relief upswing that might hit intraday at $0.00002400. Shiba Inu can extend the upward move towards $0.00002700 should the global markets see further relief signs.

SHIB Price Ready to Surge

Shiba Inu sees rallies ahead of the European session following the peaceful negotiation between Ukraine and Russia announcement and human corridors installation throughout Tuesday. Meanwhile, SHIB bulls utilize the $0.00002280 28 February low as an entry-level while diving into the price trend.

The knee-jerk reaction by Shiba Inu’s Relative Strength Index reflected the emerging bull army. The indicator shifted upside towards the 50-level but remained ultimately subdued now.

Analysts expect the meme token to surpass yesterday’s peak and attempt a move to $0.00002400. However, that would depend on how sticky the positive news proves to be and where SHIB would record its daily close.

However, the price should maintain above $0.00002400 going into ASIA PAC tomorrow and the US session to prove a viable rally for Shiba Inu. Enthusiasts can expect increased inflows tomorrow, taking SHIB to either $0.00002600 near 55-day Simple Moving Average or at the monthly pivot of $0.00002700.

However, SHIB’s rally depends on emerging news hitting the wires. A pessimistic headline might see Shiba Inu bulls falling massively against the token’s opening price of $0.00002280.

Ruined market sentiment will see the alt plunging toward $0.00002200 before looking for a foothold around $0.00002100. Though bearish, the token would pretty much contain the downswings, translating to a 9% drop from today’s SHIB opening price.