Shiba Inu Coin – Daily Tech Analysis – December 3rd, 2021

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Published: Dec 3, 2021, 00:31 UTC

Following 2 consecutive days in the red, Shiba Inu Coin would need to move back through to $0.000045 levels to support a breakout day ahead.

Shiba Inu Coin

Shiba Inu Coin fell by 4.39% on Thursday. Following a 6.99% slide on Wednesday, Shiba Inu Coin ended the day at $0.00004221.

A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00004425 before hitting reverse. Falling short of the first major resistance level at $0.0000475, Shiba Inu Coin slid to an early morning intraday low $0.00004101.

Shiba Inu Coin fell through the first major support level at $0.0000422 before briefly revisiting $0.000043 levels. Bearish through the latter part of the day, however, Shiba Inu Coin fell back to sub-$0.000043 levels and into the deep red.

At the time of writing, Shiba Inu Coin was down by 0.66% to $0.00004193. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00004241 before falling to a low $0.00004193.

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 $0.0000425 pivot to bring the first major resistance level at $0.0000440 into play.

Support from the broader market would be needed, however, would be needed for Shiba Inu Coin to break back through to $0.000044 levels. Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.0004425 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000457.

Failure to move through the $0.0000425 pivot would bring the first major support level at $0.0000407 into play. Barring an extended sell-off, however, Shiba Inu Coin should the second major support level at $0.0000393.

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: $0.0000407

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

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.