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 fell by 3.34% on Thursday. Following a 0.41% decline on Wednesday, Shiba Inu Coin ended the day at $0.00003271.
A bullish start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00003464 before hitting reverse. Falling short of the first major resistance level at $0.00003490, Shiba Inu Coin slid to a late intraday low $0.00003266.
Steering clear of the first major support level at $0.0000324, Shiba Inu Coin ended the day at $0.0000327 levels.
At the time of writing, Shiba Inu Coin was up by 0.70% to $0.00003294. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00003259 before rising to a high $0.00003309.
Shiba Inu Coin left the major support and resistance levels untested early on.
For the day ahead
Shiba Inu Coin would need to move through the $0.0000333 pivot to bring the first major resistance level at $0.0000340 into play. Support from the broader market would be needed, however, would be needed for a break out $0.0000335 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.00003464 would likely cap the upside. In the event of an extended breakout, Shiba Inu Coin could test resistance at $0.000036 levels before any pullback. The second major resistance level sits at $0.0000353.
Failure to move through the $0.0000333 pivot would bring the first major support level at $0.0000320 into play. Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.0000310 levels. The second major support level at $0.0000314 should limit the downside.
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: $0.0000320
Pivot Level: $0.0000333
First Major Resistance Level: $0.0000340
23.6% FIB Retracement Level: $0.00006987
38.2% FIB Retracement Level: $0.00005680
62% FIB Retracement Level: $0.00003700