Shiba Inu Coin – Daily Tech Analysis – November 8th, 2021

Shiba Inu Coin

Shiba Inu Coin fell by 2.93% on Sunday. Following a 6.34% slide on Saturday, Shiba Inu Coin ended the week down by 15.05% to $0.00005694.

A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00005972 before hitting reverse.

Falling short of the first major resistance level at $0.0000629, Shiba Inu Coin slid to a late morning intraday low $0.0000559.

While steering clear of the first major support level at $0.0000547, Shiba Inu Coin briefly fell through the 38.2% FIB of $0.0000568.

Finding late morning support, Shiba Inu Coin revisited $0.000058 levels before falling back into the red.

In spite of the pullback, the 38.2% FIB of $0.0000568 limited the downside late in the day.

At the time of writing, Shiba Inu Coin was down by 5.11% to $0.00005403. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00005737 before falling to a low $0.00005348

Shiba Inu Coin left fell through the 38.2% FIB of $0.0000568 and the first major support level at $0.0000553.

The second major support level at $0.0000537 limited the downside early on.

For the day ahead

Shiba Inu Coin would need to back through the first major support level and the 38.2% FIB to bring the first major resistance level at $0.0000591 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break through the $0.0000575 pivot.

Barring another extended crypto rally, the first major resistance level at $0.000591 and Sunday’s high $0.00005972 would likely cap the upside

In the event of another breakout, Shiba Inu Coin could test resistance at $0.000060 levels before any pullback. The second major resistance level sits at $0.0000613.

Failure to move back through the first major support level at $0.0000553 and the 38.2% FIB of $0.0000568 and the second major support level at $0.0000537 back into play.

Barring an extended sell-off, however, Shiba Inu Coin should steer clear of sub-$0.000050 levels. The third major support level sits at $0.0000499.

Looking at the Technical Indicators

First Major Support Level: $0.0000553

Pivot Level: $0.0000575

First Major Resistance Level: $0.0000591

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700