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Shiba Inu Coin – Daily Tech Analysis – November 27th, 2021

By:
Bob Mason
Published: Nov 27, 2021, 00:42 UTC

Following Friday's sell-off, Shiba Inu Coin would need to return to $0.000040 levels to avoid further losses in the day ahead.

Shiba coin growth inside of a flower

Shiba Inu Coin

Shiba Inu Coin slid by 9.41% on Friday. Partially reversing a 12.81% breakout from Thursday, Shiba Inu Coin ended the day at $0.0000387.

A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.0000429 hitting reverse.

Falling short of the first major resistance level at $0.0000479, Shiba Inu Coin slid to a late morning intraday low $0.0000357.

The sell-off saw Shiba Inu Coin slide through the first major support level at $0.0000376 and the 62% FIB of $0.000037.

Finding late morning support, however, Shiba Inu Coin revisited $0.000041 levels before falling back to sub-$0.000040 levels.

In spite of the late pullback, Shiba Inu Coin avoided a fall back through the first major support level and the 62% FIB.

At the time of writing, Shiba Inu Coin was up by 0.98% to $0.00003908. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00003821 before rising to a high $0.00003916.

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

SHIBUSD 271121 Hourly Chart

For the day ahead

Shiba Inu Coin would need to move back through the $0.0000391 pivot to bring the first major resistance level at $0.0000425 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000040 levels.

Barring another extended crypto rally, the first major resistance level and Friday’s high $0.0000429 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000463.

Failure to move back through the $0.0000391 pivot would bring the 62% FIB of $0.000037 and the first major support level at $0.0000353 into play.

Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000035 levels. The second major support level sits at $0.0000319.

For the bears, a sustained fall through the 62% FIB of $0.000037 would form a near-term bearish trend.

Looking at the Technical Indicators

First Major Support Level: $0.0000353

Pivot Level: $0.0000391

First Major Resistance Level: $0.0000425

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.

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