Shiba Inu(SHIB)/USDT Technical Analysis: 30th November 2021

Shiba Inu(SHIB)/USDT Technical Analysis at a Glance

Shiba INU crypto price in recent times gained a huge blow as the popular meme token surged like a giant. The self-proclaimed ‘Dogecoin killer’ also surpassed DOGE on the cryptocurrency ranking list showcasing its strength. No doubt it was a short-lived rally, yet the possibilities of a decent uptrend cannot be nullified in the coming days.

SHIBA Inu Price Technical Indicators 

Shiba Inu crypto had a gigantic rally since the beginning of the month and hence it was believed that the asset may kill yet another zero. However, the bears witnessing huge profits jumped in action and dragged the price to as low as $0.00003687. Yet the popular meme token remained completely focused and sliced through the downtrend and regained its positions above $0.00004000. 

Relative Strength Index(RSI)

The RSI which signifies the strength of the rally is currently getting exhausted after a remarkable surge. In the short term, the asset may face a consolidation after a notable trend reversal towards the south. And hence providing a great opportunity to buy the Shiba Inu coin as the asset is extremely bullish in the long term. The RSI in a higher time frame has just flipped the downtrend indicating a substantial uptrend awaiting ahead.

Moving Average(MA)

The MA suggests the buy or sell signal, in a longer time frame. The crossover of the 100-day and 200-day lets out either of the signals.  The asset in the short term is much above these MA levels. Moreover, the 100-day MA may cross the 200-day in the next couple of days indicating a huge ‘buy’ signal. On the other hand, the long term remains bullish with no specific signals yet. 

MACD

The accumulating buying or selling pressure can be analyzed with MACD. And in the short term, it appears that the selling pressure is slowly mounting which may drag the price to the local support levels. Yet the long term remains extremely bullish as bulls may enter the platform very soon. As MACD is on the verge to display a huge bullish trend ahead. 

StochRSI

The StochRSI indicates whether the asset is in the overbought or oversold condition. In the short term, the asset after trending in the overbought for nearly a long time is flipping into the bearish divergence. Yet the long-term exhibits a contrast with a huge flip from bearish divergence. 

Bollinger Bands

Bollinger bands measure the volatility of the asset. In the short term, the asset after trending along the upper band is slowly heading towards the middle of the SMA line. Indicating a drop in the volatility for a small period of time. However, in the long term, the asset has just rebounded from the lower bands and surpassed the SMA. Therefore a notable uptrend may be on the horizon. 

SHIBA Inu Price Analysis for the Week 

SHIB price initiated an attempt to breach through the falling channel and broke through these resistance levels in the early trading hours. Ever since then, the price is maintaining an upward trajectory including some pullbacks. 

Source: Tradingview Date: 30-Nov-2021 Time: 1:06pm

• The Shib Inu price after slicing through the channel is experiencing a slight pullback. Yet after a small retest, the price surge is expected to resume.
• The levels around $0.00005702 are very critical as the asset needs to surpass and sustain above these levels to maintain a healthy uptrend.
• If in case of a trend reversal, the strong levels to hold should be above $0.00004000 to prevent the bears from taking back control.

SHIBA Inu Price for Today: 30th November 2021

The most popular meme token Shiba Inu is showcasing a notable uptrend on the horizon after a successful breach through the bearish divergence. Currently, the price resides around $0.00004757 with a notable jump of 20.90% in the past 24 hours. The trading volume spiked more than 300% recording more than $6 billion. The market capitalization also witnessed a spike of more than 21% to hover around $26 billion. 

Where to buy Shiba Inu Coin in India

Shiba Inu coin is listed in most of the popular crypto exchanges. If you are a crypto-enthusiast, and more interested to invest in Shiba Inu Coin, CoinDCX may be the best-suited platform to buy Shiba Inu Coin (SHIB) and other cryptocurrencies using a wide range of payment options including UPI, Netbanking or MobiKwik wallet. 

Collectively, after swinging within a narrow and descending trend, yet the SHIB price broke through the consolidation to range high. Yet the uptrend may not be still confirmed as the important levels are yet to be tested. And hence the current surge is required to be maintained for the next couple of days to resume with the bull run. 

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