Shiba Inu Coin – Daily Tech Analysis – October 27th, 2021
Shiba Inu Coin
Shiba Inu Coin rallied by 13.36% on Tuesday. Following a 17.4% jump on Monday, Shiba Inu Coin ended the day at $0.00004795.
A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00004046 before making a move.
Steering clear of the first major support level at $0.0000370, Shiba Inu Coin rallied to a late intraday high and a new ATH $0.00004962.
Shiba Inu Coin broke through the first major resistance level at $0.0000456 and the second major resistance level at $0.0000489.
A late pullback, however, saw Shiba Inu Coin fall back through the major resistance levels.
In the final hour, Shiba Inu Coin broke back through the first major resistance level at $0.0000456 to end the day at $0.000047 levels.
At the time of writing, Shiba Inu Coin was down by 1.15% to $0.00004740. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00004815 before falling to a low $0.00004720.
Shiba Inu Coin left the major support and resistance levels untested early on.
For the day ahead
Shiba Inu Coin would need to avoid the $0.0000460 pivot to bring the first major resistance level at $0.0000516 into play.
Support from the broader market would be needed, however, for Shiba Inu Coin to break out from Tuesday’s ATH $0.00004962.
Barring an extended crypto rally, the first major resistance level would likely cap the upside
In the event of another breakout, Shiba Inu Coin could test resistance at $0.000060 levels before any pullback. The second major resistance level sits at $0.0000552.
A fall through the $0.0000460 pivot would bring the first major support level at $0.0000424 into play.
Barring an extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000369. The 23.6% FIB of $0.00003910 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.0000424
Pivot Level: $0.0000460
First Major Resistance Level: $0.0000516
23.6% FIB Retracement Level: $0.00003910
38.2% FIB Retracement Level: $0.00003259
62% FIB Retracement Level: $0.00002208
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