Shiba Inu Coin – Daily Tech Analysis – November 15th, 2021

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Published: Nov 15, 2021, 00:35 UTC

After a bullish end to the week, Shiba Inu Coin would need to move back through to $0.000055 levels to avoid a reversal.

Shiba Inu Coin

Shiba Inu Coin rose by 2.88% on Sunday. Reversing a 1.30% loss from Saturday, Shiba Inu Coin ended the week down by 6.64% to $0.00005316.

A bullish start to the day saw Shiba Inu Coin surge from an early morning intraday low $0.00005155 to an early morning intraday high $0.00005642.

Shiba Inu Coin broke through day’s major resistance levels before sliding back to $0.000052 levels.

Finding late morning support, Shiba Inu Coin broke back through the first major resistance level at $0.0000528 to end the day at $0.000053 levels.

At the time of writing, Shiba Inu Coin was down by 0.60% to $0.00005284. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00005350 before falling to a low $0.00005271.

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 $0.0000537 pivot to bring the first major resistance level at $0.0000559 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000055 levels.

Barring another extended crypto rally, the first major resistance level 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. Shiba Inu Coin would need plenty of support, however, to breakout from the 38.2% FIB of $0.0000568.

The second major resistance level sits at $0.0000586.

Failure to move through the $0.0000537 pivot would bring the first major support level at $0.0000510 into play.

Barring an extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000045 levels. The second major support level at $0.0000488 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.0000510

Pivot Level: $0.0000537

First Major Resistance Level: $0.0000559

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.