Shiba Inu Coin – Daily Tech Analysis – November 21st, 2021
Shiba Inu Coin
Shiba Inu Coin fell by 1.75% on Saturday. Partially reversing a 14.15% breakout from Friday, Shiba Inu Coin ended the day at $0.0000477.
A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00005006 before hitting reverse.
Falling short of the first major resistance level at $0.0000533, Shiba Inu Coin slid to a mid-afternoon intraday low $0.00004560.
Steering clear of the first major support level at $0.0000428, however, Shiba Inu Coin revisited $0.000048 levels before easing back.
At the time of writing, Shiba Inu Coin was down by 0.67% to $0.00004738. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00004777 before falling to a low $0.00004732.
Shiba Inu Coin left the major support and resistance levels untested early on.
For the day ahead
Shiba Inu Coin would need to move through the $0.0000478 pivot to bring the first major resistance level at $0.0000500 into play.
Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000049 levels.
Barring another extended crypto rally, the first major resistance level and Saturday’s high $0.0000506 would likely cap the upside
In the event of an extended breakout, Shiba Inu Coin could test the resistance at the 38.2% FIB of $0.0000568. The second major resistance level sits at $0.0000522.
Failure to move through the $0.0000478 pivot would bring the first major support level at $0.0000455 into play.
Barring another extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000433.
Looking at the Technical Indicators
First Major Support Level: $0.0000455
Pivot Level: $0.0000478
First Major Resistance Level: $0.0000500
23.6% FIB Retracement Level: $0.00006987
38.2% FIB Retracement Level: $0.00005680
62% FIB Retracement Level: $0.00003700
This article was originally posted on FX Empire
