Shiba Inu Coin - Daily Tech Analysis - November 28th, 2021




  • In Business
  • 2021-11-28 02:31:24Z
  • By FX Empire

Shiba Inu Coin

Shiba Inu Coin rose by 1.42% on Saturday. Partially reversing a 9.41% slide from Friday, Shiba Inu Coin ended the day at $0.00003923.

A mixed start to the day saw Shiba Inu Coin slide to an early morning intraday low $0.0000368 before making a move.

Finding support at the 62% FIB of $0.000037, Shiba Inu Coin rallied to a late afternoon intraday high $0.00004173.

Falling well short of the first major resistance level at $0.0000425, however, Shiba Inu Coin fell back to sub-$0.000039 levels before finding late support to wrap up the day at $0.000039 levels.

At the time of writing, Shiba Inu Coin was down by 4.72% to $0.00003738. A bearish start to the day saw Shiba Inu Coin fall from an early morning high $0.00003923 to a low $0.00003703

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 $0.0000393 pivot to bring the first major resistance level at $0.0000417 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000040 levels.

Barring another extended crypto rally, the first major resistance level and Saturday's high $0.00004173 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000442 and resistance at $0.000045 levels.

Failure to move through the $0.0000393 pivot would bring the 62% FIB of $0.000037 and the first major support level at $0.0000368 back into play.

Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000035 levels. The second major support level sits at $0.0000343.

For the bears, a sustained fall through the 62% FIB of $0.000037 would form a near-term bearish trend.

Looking at the Technical Indicators

First Major Support Level: $0.0000368

Pivot Level: $0.0000393

First Major Resistance Level: $0.0000417

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

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