Shiba Inu Coin – Daily Tech Analysis – November 23rd, 2021

Shiba Inu Coin

Shiba Inu Coin fell by 1.97% on Monday. Following a 7.44% slide on Sunday, Shiba Inu Coin ended the day at $0.00004328.

After a choppy morning, Shiba Inu Coin rose to an early afternoon intraday high $0.00004629 before hitting reverse.

Falling short of the first major resistance level at $0.0000468, Shiba Inu Coin slid to a late intraday low $0.00004273.

Steering clear of the first major support level at $0.0000425, however, Shiba Inu Coin revisited $0.0000437 levels before easing back.

At the time of writing, Shiba Inu Coin was down by 0.16% to $0.00004321. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00004283 before rising to a high $0.00004366.

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 $0.0000441 pivot to bring the first major resistance level at $0.0000455 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000045 levels.

Barring another extended crypto rally, the first major resistance level and Monday’s high $0.00004629 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 $0.0000477.

Failure to move through the $0.0000441 pivot would bring the first major support level at $0.0000419 into play.

Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000040 levels. The second major support level at $0.0000405 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.0000419

Pivot Level: $0.0000441

First Major Resistance Level: $0.0000455

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700

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