Shiba Inu Coin – Daily Tech Analysis – November 17th, 2021
Shiba Inu Coin
Shiba Inu Coin slid by 9.54% on Tuesday. Reversing a 0.53% gain from Monday, Shiba Inu Coin ended the day at $0.00004834.
A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00005351 before hitting reverse.
Falling short of the first major resistance level at $0.0000555, Shiba Inu Coin slid to a late morning intraday low $0.0000452.
Shiba Inu Coin fell through the day’s major support levels before finding support.
Steering clear of sub-$0.000045 levels, Shiba Inu Coin briefly revisited $0.000050 levels before easing back.
Shiba Inu Coin broke back through the third major support level at $0.0000465 to end the day at $0.000048 levels.
The second major support level at $0.0000502 pegged Shiba Inu Coin back in the 2nd half of the day.
At the time of writing, Shiba Inu Coin was up by 0.31% to $0.00004849. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00004816 before rising to a high $0.00004912.
Shiba Inu Coin left the major support and resistance levels untested early on.
For the day ahead
Shiba Inu Coin would need to move back through the $0.0000490 pivot to bring the first major resistance level at $0.0000528 into play.
Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000050 levels.
Barring another extended crypto rally, the first major resistance level and Tuesday’s high $0.00005351 would likely cap the upside
In the event of an extended breakout, Shiba Inu Coin could test resistance at the 38.2% FIB of $0.0000568. The second major resistance level sits at $0.0000573.
Failure to move back through the $0.0000490 pivot would bring the first major support level at $0.0000445 into play.
Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.0000400 levels. The second major support level at $0.0000407 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.0000445
Pivot Level: $0.0000490
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