Shiba Inu Coin
Shiba Inu Coin slid by 7.42% on Friday. Partially reversing a 12.47% jump from Thursday, Shiba Inu Coin ended the day at $0.00005237.
A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00005699 before hitting reverse.
While falling short of the first major resistance level at $0.0000602, Shiba Inu Coin briefly broke through the 38.2% FIB of $0.0000568.
The reversal, however, saw Shiba Inu Coin slide to a late morning intraday low $0.00005127.
Steering clear of the first major support level at $0.0000506, Shiba Inu Coin revisited $0.000054 levels before falling back into the deep red.
At the time of writing, Shiba Inu Coin was up by 0.48% to $0.00005262. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00005230 before rising to a high $0.00005284.
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 $0.0000535 pivot to bring the first major resistance level at $0.0000558 and the 38.2% FIB of $0.0000568 into play.
Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000055 levels.
Barring another extended crypto rally, the 38.2% FIB and Friday’s high $0.00005699 would likely cap the upside
In the event of a breakout, Shiba Inu Coin could test resistance at $0.000065 levels before any pullback. The second major resistance level sits at $0.0000593.
Failure to move through $0.0000535 pivot would bring the first major support level at $0.0000501 into play. Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000045 levels. The second major support level at $0.0000478 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.0000501
Pivot Level: $0.0000535
First Major Resistance Level: $0.0000558
23.6% FIB Retracement Level: $0.00006987
38.2% FIB Retracement Level: $0.00005680
62% FIB Retracement Level: $0.00003700