Shiba Inu Coin – A Move back through to $0.000035 Needed to Avoid sub-$0.000030 Levels

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 tumbled by 10.06% on Monday. Reversing a 6.18% rally from Sunday, Shiba Inu Coin ended the day at $0.00003291.

A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00003685 before hitting reverse. Falling short of the 62% FIB of $0.000037 and the first major resistance level at $0.0000384, Shiba Inu Coin slid to a late intraday low $0.00003164.

The extended sell-off saw Shiba Inu Coin fall through the first major support level at $0.0000343 and the second major support level at $0.0000320.

Finding late support, however, Shiba Inu Coin broke through the second major support level to end the day at $0.0000329 levels.

At the time of writing, Shiba Inu Coin was down by 0.36% to $0.00003279. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00003288 before falling to a low $0.00003286.

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 $0.0000338 pivot to bring the first major resistance level at $0.0000360 and the 62% FIB of $0.000037 into play. Support from the broader market would be needed, however, would be needed for a break out from $0.000035 levels.

Barring an extended crypto rally, the 62% FIB of $0.000037 would likely cap the upside. In the event of an extended breakout, Shiba Inu Coin could test the second major resistance level at $0.0000390.

Failure to move through the $0.0000 pivot would bring the first major support level at $0.0000308 into play. Barring another extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000286.

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: $0.0000308

Pivot Level: $0.0000338

First Major Resistance Level: $0.0000360

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700