Shiba Inu Coin
Shiba Inu Coin surged by 12.81% on Thursday. Reversing a 9.69% slide from Wednesday, Shiba Inu Coin ended the day at $0.0000427.
A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00003767 before making a move.
Steering clear of the 62% FIB of $0.000037 and the first major support level at $0.000035, Shiba Inu Coin rallied to a late afternoon intraday high $0.000048 before easing back.
Shiba Inu Coin broke through the first major resistance level at $0.0000418 and the second major resistance level at $0.0000457.
The pullback, however, saw Shiba Inu Coin fall back through the major resistance levels before finding late support.
Late in the day, Shiba Inu Coin broke back through the first major resistance level to end the day at $0.000042 levels.
At the time of writing, Shiba Inu Coin was down by 2.60% to $0.000416. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.0000429 before falling to a low $0.000414.
Shiba Inu Coin left the major support and resistance levels untested early on.
For the day ahead
Shiba Inu Coin would need to move back through the $0.0000428 pivot to bring the first major resistance level at $0.0000479 into play.
Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000045 levels.
Barring another extended crypto rally, the first major resistance level and Thursday’s high $0.0000480 would likely cap the upside
In the event of an extended breakout, Shiba Inu Coin could test resistance at $0.000055 levels. The second major resistance level sits at $0.0000531.
Failure to move back through the $0.0000428 pivot would bring the first major support level at $0.0000376 and the 62% FIB of $0.000037 into play.
Barring another extended sell-off, however, Shiba Inu Coin should avoid sub-$0.000035 levels. The second major support level sits at $0.0000325.
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: $0.0000376
Pivot Level: $0.0000428
First Major Resistance Level: $0.0000479
23.6% FIB Retracement Level: $0.00006987
38.2% FIB Retracement Level: $0.00005680
62% FIB Retracement Level: $0.00003700