Shiba Inu Coin – Avoiding a Return to sub-$0.0000365 Would Support a Bullish Day ahead
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 1.96% on Wednesday. Reversing a 1.39% loss from Tuesday, Shiba Inu Coin ended the day at $0.00003699.
After a mixed start to the day, Shiba Inu Coin fell to a late morning intraday low $0.00003559 before making a move. Steering clear of the first major support level at $0.0000350, Shiba Inu Coin rose to a mid-afternoon intraday high $0.00003765.
While falling short of the first major resistance level at $0.0000382, Shiba Inu Coin broke through the 62% FIB of $0.0000370. A late pullback, however, saw Shiba Inu Coin fall back to sub-$0.0000365 levels before finding support. The 62% FIB pegged Shiba Inu Coin back late in the day, however.
At the time of writing, Shiba Inu Coin was up by 0.30% to $0.0003710. A mixed start to the day saw fall to an early morning low $0.0000369 before rising to a high $0.00003731
While leaving the major support and resistance levels untested, Shiba Inu Coin broke back through the 62% FIB of $0.000037.
For the day ahead
Shiba Inu Coin would need to avoid the 62% FIB of $0.000037 and the $0.0000367 pivot to bring the first major resistance level at $0.0000379 into play.
Support from the broader market would be needed, however, would be needed for Shiba Inu Coin to break out from Wednesday’s high $0.0000376. Barring an extended crypto rally, the first major resistance level and resistance at $0.000038 would likely cap the upside
In the event of an extended breakout, Shiba Inu Coin could test resistance at $0.000040 levels. ธhe second major resistance level sits at $0.0000388.
A fall through the 62% FIB of $0.000037 and the $0.0000367 pivot would bring the first major support level at $0.0000358 into play. Barring another extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000347.
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: $0.0000358
Pivot Level: $0.0000367
First Major Resistance Level: $0.0000379
23.6% FIB Retracement Level: $0.00006987
38.2% FIB Retracement Level: $0.00005680
62% FIB Retracement Level: $0.00003700