Shiba Inu Coin – Daily Tech Analysis – November 19th, 2021

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Published: Nov 19, 2021, 00:30 UTC

Following another heavy loss on Thursday, Shiba Inu Coin would need to return to $0.0000450 levels to avoid another sell-off.

Shiba Inu Coin

Shiba Inu Coin tumbled by 11.71% on Thursday. Following a 0.37% loss on Wednesday, Shiba Inu Coin ended the day at $0.00004252.

A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00004903 before hitting reverse.

Coming within range of the first major resistance level at $0.0000498, Shiba Inu Coin slid to a late afternoon intraday low $0.00004052.

Shiba Inu Coin fell through the first major support level at $0.0000466 and the second major support level at $0.0000449.

The extended sell-off also saw Shiba Inu Coin briefly fall through the third major support level at $0.0000417 before ending the day at $0.000042 levels.

At the time of writing, Shiba Inu Coin was down by 0.16% to $0.00004245. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00004308 before falling to a low $0.00004206.

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 $0.0000440 pivot to bring the first major resistance level at $0.0000475 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break out from $0.0000450 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 $0.000050 levels before any pullback. The second major resistance level sits at $0.0000525.

Failure to move through the $0.0000440 pivot would bring the first major support level at $0.0000390 into play.

Barring another extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000355. The 62% FIB of $0.000037 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.0000390

Pivot Level: $0.0000440

First Major Resistance Level: $0.0000475

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.