Shiba Inu Coin – Daily Tech Analysis – November 20th, 2021

Shiba Inu Coin

Shiba Inu Coin rallied by 14.15% on Friday. Reversing an 11.71% slide from Thursday, Shiba Inu Coin ended the day at $0.00004855.

A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00004179 before making a move.

Steering clear of the first major support level at $0.0000390, Shiba Inu Coin rallied to a mid-afternoon intraday high $0.00005224.

Shiba Inu Coin broke through the first major resistance level at $0.0000475.

Coming up against the second major resistance level at $0.0000525, however, Shiba Inu Coin fell back to end the day at sub-$0.000050 levels.

At the time of writing, Shiba Inu Coin was up by 1.67% to $0.00004936. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00004852 before rising to a high $0.00005006.

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

For the day ahead

Shiba Inu Coin would need to avoid the $0.0000475 pivot to bring the first major resistance level at $0.0000533 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break out from Friday’s high $0.00005224.

Barring another extended crypto rally, the first major resistance level would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000580. Shiba Inu Coin would need plenty of support, however, to breakout from the 38.2% FIB of $0.0000568.

A fall through the $0.0000475 pivot would bring the first major support level at $0.0000428 into play.

Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000040 levels. The second major support level sits at $0.0000371.

Looking at the Technical Indicators

First Major Support Level: $0.0000428

Pivot Level: $0.0000475

First Major Resistance Level: $0.0000533

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700