Shiba Inu Coin – Daily Tech Analysis – November 24th, 2021

Shiba Inu Coin

Shiba Inu Coin fell by 3.16% on Tuesday. Following a 1.97% loss on Monday, Shiba Inu Coin ended the day at $0.00004192.

A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00004454 before hitting reverse.

Falling short of the first major resistance level at $0.0000455, Shiba Inu Coin slid to a late intraday low $0.00004105.

Shiba Inu Coin fell through the first major support level at $0.0000419 before finding support. Late in the day, Shiba Inu Coin briefly revisited $0.000042 levels before easing back.

The first major support level at $0.0000419 pegged Shiba Inu Coin back.

At the time of writing, Shiba Inu Coin was up by 1.29% to $0.00004246. A bullish start to the day saw Shiba Inu Coin rise from an early morning low $0.00004191 to a high $0.00004285.

Shiba Inu Coin left the major support and resistance levels untested early on.

For the day ahead

Shiba Inu Coin would need to move back through the $0.0000425 pivot to bring the first major resistance level at $0.0000440 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break out from $0.000043 levels.

Barring another extended crypto rally, the first major resistance level and Tuesday’s high $0.00004454 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test the resistance at $0.0000480 levels. The second major resistance level sits at $0.0000460.

Failure to move back through the $0.0000425 pivot would bring the first major support level at $0.0000405 into play.

Barring another extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000390.

Looking at the Technical Indicators

First Major Support Level: $0.0000405

Pivot Level: $0.0000425

First Major Resistance Level: $0.0000440

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

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