Shiba Inu Coin – Daily Tech Analysis – November 16th, 2021


Shiba Inu Coin

Shiba Inu Coin rose by 0.53% on Monday. Following a 2.88% gain on Sunday, Shiba Inu Coin ended the day at $0.00005344.

A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00005230 before making a move.

Steering clear of the first major support level at $0.0000510, Shiba Inu Coin rallied to a late afternoon intraday high $0.00005600.

Coming up against the first major resistance level at $0.0000559, Shiba Inu Coin fell back to end the day at sub-$0.000054 levels.

At the time of writing, Shiba Inu Coin was down by 2.28% to $0.00005222. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00005351 before falling to a low $0.0005138.

Shiba Inu Coin tested the first major support level at $0.00005180 early on.

For the day ahead

Shiba Inu Coin would need to move through the $0.0000539 pivot to bring the first major resistance level at $0.0000555 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000055 levels.

Barring another extended crypto rally, the first major resistance level and Monday’s high $0.000056 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test resistance at $0.000060 levels before any pullback. Shiba Inu Coin would need plenty of support, however, to breakout from the 38.2% FIB of $0.0000568. The second major resistance level sits at $0.0000576.

Failure to move through the $0.0000539 pivot would bring the first major support level at $0.0000518 back into play.

Barring an extended sell-off, however, Shiba Inu Coin should avoid sub-$0.0000500 levels. The second major support level at $0.0000502 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.0000518

Pivot Level: $0.0000539

First Major Resistance Level: $0.0000555

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700



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