Shiba Inu Coin — Daily Technical Analysis — 5th December, 2021

Mr. Plan ₿
2 min readDec 5, 2021
Source photo Unsplash

Shiba Inu Coin would need to climb back through $0.000040 levels after a fourth consecutive day in the red to begin the recovery process.

Shiba Inu Coin

On Saturday, Shiba Inu Coin fell 9.92 percent. Shiba Inu Coin closed the day at $0.00003641, down 4.22 percent from the previous day.

Shiba Inu Coin rose to an intraday high of $0.00004054 in the early morning before reversing. Shiba Inu Coin fell to a mid-morning intraday low of $0.00003000 after falling short of the first significant resistance mark at $0.0000439.

Shiba Inu Coin breached the first major support level at $0.0000380, as well as the second major support level at $0.0000355. Shiba Inu Coin has also breached the 62 percent FIB of $0.000037.

Shiba Inu Coin, however, found late-morning support and returned to $0.0000396 levels before easing back.

Shiba Inu Coin fell through the first major support level and the 62 percent FIB to conclude the day at sub-$0.000037 levels during the downturn.

Shiba Inu Coin was down 1.07 percent to $0.00003602 at the time of writing. Shiba Inu Coin rose to an early morning high of $0.0000370 before sliding to a low of $0.0000356.

Shiba Inu Coin tested resistance at the 62 percent FIB of $0.000037, while leaving the key support and resistance levels untested.

For the day ahead

Shiba Inu Coin would need to avoid the pivot at $0.0000357 and advance through the 62 percent FIB at $0.000037 in order to reach the first major resistance level at $0.0000413.

Support from the larger market, on the other hand, would be required for Shiba Inu Coin to re-break through to $0.000040 levels. Barring a prolonged crypto rise, the first significant resistance level and Saturday’s high of $0.00004054 would most certainly limit the upside.

Shiba Inu Coin may test resistance at $0.000045 levels if it continues to break out. The second significant resistance level is $0.0000462.

A break through the pivot at $0.0000357 would trigger the first major support level at $0.0000308. Shiba Inu Coin, however, should avoid sub-$0.0000300 levels until there is another lengthy sell-off. The second important support level is $0.0000251.

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

--

--

Mr. Plan ₿

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