Bears are targeting a drop to sub-$0.000030 levels for the Shiba Inu Coin.

Mr. Plan ₿
2 min readDec 11, 2021
Source photo Unsplash

Shiba Inu Coin would have to break out from $0.000035 levels to avoid a second day in the red after another reversal on Friday. Shiba Inu Coin would need to break out from $0.000035 levels to avoid another day in the red after another reversal on Friday.

Shiba Inu Coin has a technical analysis. We’ll look at the previous day’s moves as well as today’s support, resistance, pivot levels, and Fibonacci levels.

Shiba Inu Coin

On Friday, Shiba Inu Coin dropped 3.40 percent. Shiba Inu Coin closed the day at $0.00003348, down 6.27 percent from the previous day.

Shiba Inu Coin soared to an intraday high of $0.00003618 in the early afternoon before reversing following a volatile start to the day. Shiba Inu Coin sank to a late intraday low of $0.00003335, falling short of the first significant resistance mark at $0.0000366.

Shiba Inu Coin finished the day in the red after breaking through the first key support level at $0.0000335.

Shiba Inu Coin was up 0.99 percent to $0.0003381 at the time of writing. The day began with a mixed performance, with the price falling to an early morning low of $0.00003312 before rebounding to a high of $0.00003417.

Early on, Shiba Inu Coin did not challenge the main support and resistance levels.

For the day ahead

Shiba Inu Coin would need to pass through the pivot point of $0.0000343 in order to reach the first major resistance level of $0.0000353.

Support from the larger market, on the other hand, would be required for Shiba Inu Coin to re-break through to $0.000035 levels. Barring a prolonged crypto rise, the first significant resistance level and Friday’s high of $0.00003618 would most certainly limit the upside.

Shiba Inu Coin may test resistance at the 62 percent FIB of $0.000037 if it continues to break out. The second significant resistance level is $0.0000372.

Failure to move through the pivot at $0.0000343 would trigger the first significant support level at $0.0000325. Shiba Inu Coin, however, should avoid the second key support level at $0.0000315 unless there is another lengthy sell-off.

A persistent decline through the 62 percent FIB of $0.000037 would constitute a near-term bearish trend for the bears.

Looking at the Technical Indicators

First Major Support Level: $0.0000325

Pivot Level: $0.0000343

First Major Resistance Level: $0.0000353

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700

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Mr. Plan ₿

Passionate about personal development and crypto/stocks investments, I share valuable insights for your success . For collaborations vremaroiua.medium@gmail.com