Shiba Inu Coin – Daily Tech Analysis – November 10th, 2021

Shiba Inu Coin

Shiba Inu Coin fell by 0.58% on Tuesday. Following a 3.04% loss on Monday, Shiba Inu Coin ended the day at $0.00005487.

A bullish start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00005850 before hitting reverse

Shiba Inu Coin broke through the 38.2% FIB of $0.0000568.

Coming up against the first major resistance level at $0.0000586, however, Shiba Inu Coin fell to a late intraday low $0.00005333.

While falling back through the 38.2% FIB, Shiba Inu Coin avoided the first major support level at $0.0000523.

Finding late support, Shiba Inu Coin revisited $0.000056 levels before easing back.

At the time of writing, Shiba Inu Coin was up by 0.44% to $0.00005511. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00005437 before rising to a high $0.00005525.

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 $0.0000556 pivot to bring the 38.2% FIB of $0.0000568 and the first major resistance level at $0.0000578 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break out from the 38.2% FIB.

Barring another extended crypto rally, the first major resistance level and Tuesday’s high $0.00005850 would likely cap the upside

In the event of a breakout, Shiba Inu Coin could test the second major resistance level at $0.0000607 before any pullback.

Failure to move through $0.0000556 pivot would bring the first major support level at $0.0000526 into play. Barring an extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000504.

Looking at the Technical Indicators

First Major Support Level: $0.0000526

Pivot Level: $0.0000556

First Major Resistance Level: $0.0000578

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700