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.

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The second major support level at $0.0000502 pegged Shiba Inu Coin back in the 2^nd 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