Shiba Inu Coin – Daily Tech Analysis – October 28th, 2021

Shiba Inu Coin

Shiba Inu Coin surged by 64.95% on Wednesday. Following a 13.36% gain on Tuesday, Shiba Inu Coin ended the day at $0.00007919.

A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00004686 before making a move.

Steering clear of the first major support level at $0.0000424, Shiba Inu Coin surged to a late intraday high and a new ATH $0.00008872.

Shiba Inu Coin broke through the day’s major resistance levels to end the day at $0.000079 levels.

At the time of writing, Shiba Inu Coin was up by 0.70% to $0.0007966. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00007600 before rising to a high $0.0008184.

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 $0.0000716 pivot to bring the first major resistance level at $0.0000963 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break out from Wednesday’s ATH $0.00008872.

Barring another 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 $0.00012 levels before any pullback. The second major resistance level sits at $0.0001134.

A fall through the $0.0000716 pivot and the 23.6% FIB of $0.00006897 would bring 38.2% FIB of $0.0000568 into play.

Barring an extended sell-off, however, Shiba Inu Coin should steer clear of the first major support level at $0.0000544. The second major support level sits at $0.0000297

Looking at the Technical Indicators

First Major Support Level: $0.0000544

Pivot Level: $0.0000716

First Major Resistance Level: $0.0000963

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700

Please let us know what you think in the comments below.

Thanks, Bob