Shiba Inu Coin – Daily Tech Analysis – November 22nd, 2021

Shiba Inu Coin

Shiba Inu Coin slid by 7.44% on Sunday. Following a 1.75% loss on Saturday, Shiba Inu Coin ended the week down by 16.97% to $0.00004414.

A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00004777 before hitting reverse.

Falling short of the first major resistance level at $0.0000500, Shiba Inu Coin slid to a late intraday low $0.00004354.

Shiba Inu Coin fell through the first major support level at $0.0000455.

Finding support at the second major support level at $0.0000433, however, Shiba Inu Coin revisited $0.000045 levels before easing back.

At the time of writing, Shiba Inu Coin was down by 0.70% to $0.00004383. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00004438 before falling to a low $0.00004356.

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 $0.0000452 pivot to bring the first major resistance level at $0.0000468 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break out from $0.000045 levels.

Barring another extended crypto rally, the first major resistance level and Sunday’s high $0.00004777 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test the resistance at $0.0000500 levels. The second major resistance level sits at $0.0000494.

Failure to move through the $0.0000452 pivot would bring the first major support level at $0.0000425 into play.

Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000040 levels. The second major support level at $0.0000409 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.0000425

Pivot Level: $0.0000452

First Major Resistance Level: $0.0000468

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700