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Shiba Inu Coin – Daily Tech Analysis – November 27th, 2021

·2 min read

Shiba Inu Coin

Shiba Inu Coin slid by 9.41% on Friday. Partially reversing a 12.81% breakout from Thursday, Shiba Inu Coin ended the day at $0.0000387.

A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.0000429 hitting reverse.

Falling short of the first major resistance level at $0.0000479, Shiba Inu Coin slid to a late morning intraday low $0.0000357.

The sell-off saw Shiba Inu Coin slide through the first major support level at $0.0000376 and the 62% FIB of $0.000037.

Finding late morning support, however, Shiba Inu Coin revisited $0.000041 levels before falling back to sub-$0.000040 levels.

In spite of the late pullback, Shiba Inu Coin avoided a fall back through the first major support level and the 62% FIB.

At the time of writing, Shiba Inu Coin was up by 0.98% to $0.00003908. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00003821 before rising to a high $0.00003916.

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

For the day ahead

Shiba Inu Coin would need to move back through the $0.0000391 pivot to bring the first major resistance level at $0.0000425 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 Friday’s high $0.0000429 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000463.

Failure to move back through the $0.0000391 pivot would bring the 62% FIB of $0.000037 and the first major support level at $0.0000353 into play.

Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000035 levels. The second major support level sits at $0.0000319.

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: $0.0000353

Pivot Level: $0.0000391

First Major Resistance Level: $0.0000425

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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