This is the tech analysis for Shiba Inu Coin. We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s.
Shiba Inu Coin
Shiba Inu Coin rose by 2.93% on Saturday. Partially reversing a 3.40% fall from Friday, Shiba Inu Coin ended the day at $0.00003445.
A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00003312 before making a move. Steering clear of the first major support level at $0.0000325, Shiba Inu Coin rose to a mid-morning intraday high $0.00003503.
Coming within range of the first major resistance level at $0.0000353, Shiba Inu Coin fell back to $0.0000335 levels before finding late support to wrap up the day at $0.0000344 levels.
At the time of writing, Shiba Inu Coin was up by 0.29% to $0.00003455. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00003443 before rising to a high $0.00003473.
Shiba Inu Coin left the major support and resistance levels untested early on.
For the day ahead
Shiba Inu Coin would need to avoid the $0.0000342 pivot to bring the first major resistance level at $0.0000353 into play.
Support from the broader market would be needed, however, would be needed for a break back through to $0.000035 levels. Barring an extended crypto rally, the first major resistance level and Saturday’s high $0.00003503 would likely cap the upside
In the event of an extended breakout, Shiba Inu Coin could test resistance at the 62% FIB of $0.000037. The second major resistance level sits at $0.0000361.
A fall through the $0.0000342 pivot would bring the first major support level at $0.0000334 into play. Barring another extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000323.
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: $0.0000334
Pivot Level: $0.0000342
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