Shiba Inu Coin – Daily Tech Analysis – November 9th, 2021


Shiba Inu Coin

Shiba Inu Coin fell by 3.04% on Monday. Following a 2.93% loss on Sunday, Shiba Inu Coin ended the day at $0.00005520.

A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00005274 before making a move.

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

The sell-off saw Shiba Inu Coin also briefly fall through the second major support level at $0.00000537.

Finding mid-morning support, however, Shiba Inu Coin broke back through the 38.2% FIB to strike a late morning intraday day high $0.00005907.

Coming up against the first major resistance level at $0.0000591, however, Shiba Inu Coin slid back through the 38.2% FIB to end the day at $0.000055 levels.

At the time of writing, Shiba Inu Coin was up by 1.70% to $0.00005614. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00005490 before rising to a high $0.00005618.

Shiba Inu Coin left the major support and resistance levels untested early on.

For the day ahead

Shiba Inu Coin would need to avoid a fall back through the $0.0000557 pivot to bring the 38.2% FIB of $0.0000568 and the first major resistance level at $0.0000586 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000058 levels.

Barring another extended crypto rally, the first major resistance level and Monday’s high $0.00005907 would likely cap the upside

In the event of another breakout, Shiba Inu Coin could test the second major resistance level at $0.0000620 before any pullback.

A fall back through $0.0000557 pivot would bring the first major support level at $0.0000523 into play. Barring an extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000493.

Looking at the Technical Indicators

First Major Support Level: $0.0000523

Pivot Level: $0.0000557

First Major Resistance Level: $0.0000586

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700



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