Shiba Inu Coin – Daily Tech Analysis – November 3rd, 2021

Shiba Inu Coin

Shiba Inu Coin fell by 3.28% on Tuesday. Partially reversing a 6.79% rally from Monday, Shiba Inu Coin ended the day at $0.00006920.

After a mixed morning, Shiba Inu Coin fell to late afternoon intraday low $0.00006590 before making a move.

Shiba Inu Coin fell through the 23.6% FIB of $0.00006897 and the first major support level at $0.0000666.

Finding late support, Shiba Inu Coin broke back through the 23.6% FIB of $0.00006897 to strike a late intraday high $0.0000730.

Falling short of the first major resistance level at $0.0000757, however, Shiba Inu Coin fell back to end the day at sub-$0.000070 levels.

At the time of writing, Shiba Inu Coin was down by 1.13% to $0.00006842. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00006926 before falling to a low $0.00006829.

While leaving the major support and resistance levels untested, Shiba Inu Coin fell back through the 23.6% FIB of $0.00006897.

For the day ahead

Shiba Inu Coin would need to move back through the 23.6% FIB and the $0.0000696 pivot to bring the first major resistance level at $0.0000726 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000070 levels.

Barring another extended crypto rally, the first major resistance level and Tuesday’s high $0.0000730 would likely cap the upside

In the event of another breakout, Shiba Inu Coin could test resistance at $0.000080 levels before any pullback. The second major resistance level sits at $0.0000760.

Failure to move back through the 23.6% FIB and the $0.0000696 pivot would bring the first major support level at $0.0000662 into play.

Barring an extended sell-off, however, Shiba Inu Coin should steer clear of sub-$0.000060 levels. The second major support level at $0.0000632 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.0000662

Pivot Level: $0.0000696

First Major Resistance Level: $0.0000726

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700

Please let us know what you think in the comments below.

Thanks, Bob