Shiba Inu – Daily Tech Analysis – October 9th, 2021

Shiba Inu

Shiba Inu rallied by 18.89% on Friday. Reversing a 17.82% slump from Thursday, Shiba Inu ended the day at $0.00002725.

A mixed start to the day saw Shiba Inu fall to an early morning intraday low $0.00002063 before making a move.

Steering well clear of the first major support level at $0.0000173, Shiba Inu rallied to a late afternoon intraday high $0.00002952.

While falling short of the first major resistance level at $0.00003210, Shiba Inu broke through the 23.6% FIB of $0.00002831.

A late pullback, however, saw Shiba Inu fall back through the 23.6% FIB to end the day at $0.000027 levels.

At the time of writing, Shiba Inu was up by 0.55% to $0.00002740. A mixed start to the day saw Shiba Inu fall to an early morning low $0.00002624 before rising to a high $0.00002786.

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

For the day ahead

Shiba Inu would need to avoid the $0.0000258 pivot to bring the 23.6% FIB of $0.00002831 and the first major resistance level at $0.00003100 into play.

Support from the broader market would be needed, however, for Shiba Inu to break out from the 23.6% FIB of $0.00002831.

Barring an extended crypto rally, the first major resistance level 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 $0.00003470.

A fall through the $0.0000258 pivot would bring the 38.2% FIB of $0.00002387 and the first major support level at $0.00002210 into play.

Barring another extended sell-off, however, Shiba Inu should avoid the second major support level at $0.0000169.

Looking at the Technical Indicators

First Major Support Level: $0.00002210

Pivot Level: $0.00002580

First Major Resistance Level: $0.00003100

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