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Shiba Inu Coin – Daily Tech Analysis – December 1st, 2021

By:
Bob Mason
Published: Dec 1, 2021, 00:48 UTC

Following 2 solid daily gains, a move through to $0.000055 levels would support a run at $0.000060 levels.

Shiba INU coin

Shiba Inu Coin

Shiba Inu Coin rose by 4.81% on Tuesday. Following a 15.68% breakout on Monday, Shiba Inu Coin ended the day at $0.00004748.

A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00004335 before making a move. Steering clear of the first major support level at $0.0000405, Shiba Inu Coin rallied to a late morning intraday high $0.00005437.

Shiba Inu Coin broke through the first major resistance level at $0.0000480 and the second major resistance level at $0.0000507. Falling short of the 38.2% FIB of $0.0000568 and the third major resistance level at $0.0000582, however, Shiba Inu Coin eased back to end the day at sub-$0.000050 levels.

At the time of writing, Shiba Inu Coin was up by 1.16% to $0.00004801. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00004656 before rising to a high $0.00004852.

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

SHIBUSD 011221 Hourly Chart

For the day ahead

Shiba Inu Coin would need to move back through the $0.00004840 pivot to bring the first major resistance level at $0.0000534 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000053 levels. Barring another extended crypto rally, the first major resistance level and Tuesday’s high $0.00005437 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000594. Shiba Inu Coin would need plenty of support, however, to breakout from the 38.2% FIB of $0.0000568.

Failure to move back through the $0.0000484 pivot would bring the first major support level at $0.0000424 into play. Barring an extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000040 levels. The second major support level sits at $0.0000374.

For the bears, a sustained fall through the 62% FIB of $0.000037 would form a near-term bearish trend.

Looking at the Technical Indicators

First Major Support Level: $0.0000

Pivot Level: $0.0000

First Major Resistance Level: $0.0000

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.

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