Shiba Inu Coin – Daily Tech Analysis – November 14th, 2021

Shiba Inu Coin

Shiba Inu Coin fell by 1.30% on Saturday. Following a 7.42% slide on Friday, Shiba Inu Coin ended the day at $0.00005169.

A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00005284 before hitting reverse.

Falling short of the first major resistance level at $0.0000558, Shiba Inu Coin fell to an early morning intraday low $0.00005059.

Steering clear of the first major support level at $0.0000501, Shiba Inu Coin revisited $0.0000526 levels before falling back into the red.

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At the time of writing, Shiba Inu Coin was up by 5.03% to $0.00005429. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00005155 before rising to a high $0.00005438.

Shiba Inu Coin broke through the first major resistance level at $0.0000528 and the second major resistance level at $0.0000540 early on.

For the day ahead

Shiba Inu Coin would need to move back through the early high $0.00005438 to bring the third major resistance level at $0.0000562 and the 38.2% FIB of $0.0000568 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to avoid a fall back through the major resistance levels.

Barring another extended crypto rally, the 38.2% FIB would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test resistance at $0.000060 levels before any pullback.

A fall back through the major resistance levels and the $0.0000517 pivot would bring the first major support level at $0.0000506 into play. Barring an extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000045 levels. The second major support level at $0.0000495 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.0000506

Pivot Level: $0.0000517

First Major Resistance Level: $0.0000528

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700