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
This article was originally posted on FX Empire