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Shiba Inu Coin – Daily Tech Analysis – December 5th, 2021

·2 min read

Shiba Inu Coin

Shiba Inu Coin slid by 9.92% on Saturday. Following a 4.22% loss on Friday, Shiba Inu Coin ended the day at $0.00003641.

A mixed morning saw Shiba Inu Coin rise to an early morning intraday high $0.00004054 before hitting reverse. Falling short of the first major resistance level at $0.0000439 Shiba Inu Coin tumbled to a mid-morning intraday low $0.00003000.

Shiba Inu Coin fell through the first major support level at $0.0000380 and the second major support level at $0.0000355. Shiba Inu Coin also fell through the 62% FIB of $0.000037.

Finding late morning support, however, Shiba Inu Coin revisited $0.0000396 levels before easing back.

The pullback saw Shiba Inu Coin fall back through the first major support level and the 62% FIB to end the day at sub-$0.000037 levels.

At the time of writing, Shiba Inu Coin was down by 1.07% to $0.00003602. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.0000370 before falling to a low $0.0000356.

While leaving the major support and resistance levels untested, Shiba Inu Coin tested resistance at the 62% FIB of $0.000037.

For the day ahead

Shiba Inu Coin would need to avoid the $0.0000357 pivot and move through the 62% FIB of $0.000037 to bring the first major resistance level at $0.0000413 into play.

Support from the broader market would be needed, however, would be needed for Shiba Inu Coin to break back through to $0.000040 levels. Barring an extended crypto rally, the first major resistance level and Saturday’s high $0.00004054 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test resistance at $0.000045 levels. ธhe second major resistance level sits at $0.0000462.

A fall through the $0.0000357 pivot would bring the first major support level at $0.0000308 into play. Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.0000300 levels. The second major support level sits at $0.0000251.

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: $0.0000

Pivot Level: $0.0000

First Major Resistance Level: $0.0000

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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