Shiba Inu Coin – Daily Tech Analysis – December 1st, 2021

Bob Mason
·2 min read

Shiba Inu Coin

Shiba Inu Coin rose by 4.81% on Tuesday. Following a 15.68% breakout on Monday, Shiba Inu Coin ended the day at $0.00004748.

A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00004335 before making a move. Steering clear of the first major support level at $0.0000405, Shiba Inu Coin rallied to a late morning intraday high $0.00005437.

Shiba Inu Coin broke through the first major resistance level at $0.0000480 and the second major resistance level at $0.0000507. Falling short of the 38.2% FIB of $0.0000568 and the third major resistance level at $0.0000582, however, Shiba Inu Coin eased back to end the day at sub-$0.000050 levels.

At the time of writing, Shiba Inu Coin was up by 1.16% to $0.00004801. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00004656 before rising to a high $0.00004852.

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 $0.00004840 pivot to bring the first major resistance level at $0.0000534 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000053 levels. Barring another extended crypto rally, the first major resistance level and Tuesday’s high $0.00005437 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000594. Shiba Inu Coin would need plenty of support, however, to breakout from the 38.2% FIB of $0.0000568.

Failure to move back through the $0.0000484 pivot would bring the first major support level at $0.0000424 into play. Barring an extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000040 levels. The second major support level sits at $0.0000374.

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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