Shiba

bullish

2024

Shiba Inu

<p>After a long correction phase, the Shiba Inu crypto is regaining interest. Let us examine together the future prospects for SHIB.</p>
<h2 id="h-situation-du-cours-du-shiba-inu-shib">Shiba Inu (SHIB) Price Situation</h2>
<p>After recording a performance close to 400%, the price of Shiba reached a high point of <strong>0.00004575 $</strong>. Unfortunately, reaching this level subsequently led to a gradual decline, slowly bringing its price down to <strong>0.0000108 $</strong>. This price level acted as support that was maintained afterwards. Indeed, it is after reaching this level that the price of SHIB began to regain the interest of buyers. They initiated a series of increasingly higher lows, allowing for a true expansion that broke the resistance of <strong>0.000020 $</strong> to reach the next at <strong>0.000028 $</strong>. Unfortunately, the crypto was unable to break this level and began a slight retracement phase.</p>
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<p>At the time of writing this text, the price of Shiba Inu is trading around <strong>0.000024 $</strong>. SHIB is currently in a short-term consolidation phase, with a low point identified at <strong>0.000022 $</strong>. It is interesting to note that this price level corresponds to the same location as the annual VWAP. Moreover, this consolidation follows a retracement of about 50% from its last bullish move. Thus, the medium and long-term trend of the cryptocurrency remains bullish. These observations are confirmed by the crossing and bullish orientation of the 50 and 200-day moving averages. On the bullish momentum side, a clear recovery is observed, although it has been temporarily hampered by a slight correction. This trend is visible both in terms of price and through the oscillators.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcZ0TiqIbphaMoacbBIiZ3feCfk7auz9fGCE0UnwQtLbMCIpNYZag7ZgV163Yc7VxxGF9-nWmX_CgzmFFlRgSHr6LiJpHv0xClboPaSuG6O-JlNm_G-U9nO8FKNR0YYv1mno5QT3g?key=1sLWAlMjjoAeZQDsxIBqaA5_" alt="">
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  SHIB/USD Chart (1D)
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<p><em>The current technical analysis was conducted in collaboration with Elie FT, an investor and passionate trader in the cryptocurrency market. Currently a trainer at </em><a href="https://www.family-trading.com/" target="_blank" rel="noopener noreferrer nofollow"><em>Family Trading</em></a><em>, a community of thousands of proprietary traders active since 2017. You will find Live sessions, educational content, and mutual assistance around financial markets in a professional and warm environment.</em></p>
<h2 id="focus-on-derivatives-shib-usdt">Focus on Derivatives (SHIB/USDT)</h2>
<p>The open interest of Shiba Inu perpetual contracts has followed the trajectory of its underlying, reflecting a relatively healthy market, with speculative interest mostly oriented towards buying. These observations are corroborated by a financing rate remaining positive. However, on the CVD side, a divergence is observed compared to these indicators, indicating persistent selling interest on market orders. Regarding liquidations, they remain insignificant, which could suggest cautious position management by traders or a lack of sufficient volatility to trigger massive liquidations.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdE-5yitZV7dWcwLmYgPU482mqX4ydGqKFNcBtg0RHEhk8hVDODfQe81ZlUnX_EtDuKv9-T3BeDfXsBif1RN5lQQn2K-DuhranSiIQ-39LhPDp1rN5PBAE86kwuvmk8URlbFRaCbA?key=1sLWAlMjjoAeZQDsxIBqaA5_" alt="">
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  Open Interest / Liquidations &amp; Funding Rate SHIB/USDT
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<p>Since the expansion of Shiba Inu, the heatmap highlights new liquidation zones on SHIB/USDT contracts. Above the current price, the most significant level is around 0.0000265 $. Below, the 0.000022 $ zone is particularly notable. Even lower, another significant zone appears around 0.000018 $. The approach of the price toward these levels could lead to a massive triggering of orders, thus increasing the risk of a period of heightened volatility for the cryptocurrency. These zones constitute crucial points of interest for investors.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd5kGDEXuZrt8RqZsmV3qYLaQChuWKcwk4Mz8YD4x_W-yVeZBUqwfgI3FdWiY5afGb6_edqV7fKKmGmuipgyzH3MAtFlssmDCwOr74VLwKHbWaW8Pa1PCSCir3LkNJes8JYrkNRsA?key=1sLWAlMjjoAeZQDsxIBqaA5_" alt="">
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  SHIB/USDT Liquidation Heatmap&nbsp; <br>
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<h2 id="forecasts-for-the-price-of-shiba-inu-shib">Forecasts for the Price of Shiba Inu (SHIB)</h2>
<ul>
 <li>If the price of Shiba Inu remains above the 0.000022 $ zone, a bullish continuation could be considered up to the levels of 0.000028 $ or even 0.000030 $. In case of continuation of this movement, a potential breakthrough of 0.000033 $ would open the way to reach the last peak of SHIB at 0.000045 $. This scenario could lead to a rise of about 90%.</li>
</ul>
<ul>
 <li>If Shiba Inu fails to maintain above 0.000022 $, a pullback towards 0.000018 $ would be conceivable. The next key support, in case of a continuation of the decline, would be around 0.000015 $. If the bearish movement extends, a return to 0.000013 $, or even 0.000012 $, could be anticipated, implying a decline of about 48%.</li>
</ul> 
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  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SHIBUSDT","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
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  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SHIBUSDT","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
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 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/SHIBUSDT/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">SHIBUSDT chart</span></a> by TradingView
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<h2 id="conclusion">Conclusion</h2>
<p>Despite a notable correction after an impressive rise, Shiba Inu shows signs of recovery with a bullish trend in the medium and long term supported by strong technical indicators. Currently in a consolidation phase (short term), SHIB remains in a favorable dynamic, although a key resistance has not yet been broken. Thus, it will be essential to monitor closely the price reaction at key levels to validate or adjust the current forecasts. Finally, let us remind that these analyses are based solely on technical criteria, and that the price of cryptocurrencies can evolve rapidly based on other more fundamental factors.</p>

Return Of The Shiba Inu? Technical Analysis As Of November 21, 2024

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