Shiba Inu Coin – Daily Tech Analysis – November 18th, 2021

Shiba Inu Coin

Shiba Inu Coin fell by 0.37% on Wednesday. Following a 9.54% slide on Tuesday, Shiba Inu Coin ended the day at $0.00004816.

A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00004662 before making a move.

Steering clear of the first major support level at $0.0000445, Shiba Inu Coin rose to a late morning intraday high $0.0000499.

Falling short of the first major resistance level at $0.0000528, however, Shiba Inu Coin fell back to sub-$0.000048 levels before finding support.

A late move back through to $0.000048 levels limited the downside on the day.

At the time of writing, Shiba Inu Coin was up by 1.10% to $0.00004869. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00004802 before rising to a high $0.00004890.

Shiba Inu Coin left the major support and resistance levels untested early on.

For the day ahead

Shiba Inu Coin would need to avoid a fall back through the $0.0000482 pivot to bring the first major resistance level at $0.0000498 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000049 levels.

Barring another extended crypto rally, the first major resistance level and Wednesday’s high $0.0000499 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000515.

A fall back through the $0.0000482 pivot would bring the first major support level at $0.0000466 into play.

Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.0000400 levels. The second major support level at $0.0000449 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.0000466

Pivot Level: $0.0000482

First Major Resistance Level: $0.0000498

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700