Shiba Inu – Daily Tech Analysis – October 13th, 2021

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Published: Oct 13, 2021, 01:00 UTC

It's a bullish start to the day. A move back through to $0.000031 levels would signal a breakout.

Shiba Inu

Shiba Inu slid by 5.28% on Tuesday. Partially reversing a 17.21% breakout from Monday, Shiba Inu ended the day at $0.00002904.

A mixed start to the day saw Shiba Inu rise to an early morning intraday high $0.00003159 before hitting reverse.

Falling short of the first major resistance level at $0.0000332, Shiba Inu slid to a mid-afternoon intraday low $0.00002733.

The reversal saw Shiba Inu fall through the 23.6% FIB of $0.00002831.

Finding support at the first major support level at $0.00002700, Shiba Inu broke back through the 23.6% FIB to end the day at $0.000029 levels.

At the time of writing, Shiba Inu was up by 1.41% to $0.00002945. A mixed start to the day saw Shiba Inu fall to an early morning low $0.00002888 before rising to a high $0.00002949.

Shiba Inu left the major support and resistance levels untested early on.

For the day ahead

Shiba Inu would need to avoid a fall back through the $0.00002930 pivot to bring the first major resistance level at $0.0000313 into play.

Support from the broader market would be needed, however, for Shiba Inu to break back through to $0.000031 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $0.00003159 would likely cap the upside

In the event of another breakout, Shiba Inu could test resistance at $0.000035 levels before any pullback. The second major resistance level sits at $0.0000336.

A fall back through the $0.0000293 pivot would bring the 23.6% FIB of $0.00002831 and the first major support level at $0.0000271 into play.

Barring an extended sell-off, however, Shiba Inu should avoid the 38.2% FIB of $0.00002387. The second major support level at $0.00002510 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.0000271

Pivot Level: $0.0000293

First Major Resistance Level: $0.0000313

23.6% FIB Retracement Level: $0.00002831

38.2% FIB Retracement Level: $0.00002387

62% FIB Retracement Level: $0.00001668

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

Thanks, Bob

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.