Shiba Inu rallied by 17.21% on Monday. Reversing a 1.95% decline from Sunday, Shiba Inu ended the day at $0.00003065.
A mixed start to the day saw Shiba Inu fall to an early morning intraday low $0.00002580 before making a move.
Steering clear of the first major support level at $0.0000238, Shiba Inu rallied to an early afternoon intraday high $0.00003203.
Shiba Inu broke through the first major resistance level at $0.0000277 and the second major resistance level at $0.0000292.
The breakout out also saw Shiba Inu break through the 23.6% FIB of $0.00002831 to end the day at $0.000030 levels.
At the time of writing, Shiba Inu was down by 2.58% to $0.00002986. A mixed start to the day saw Shiba Inu rise to an early morning high $0.00003081 before falling to a low $0.00002953.
Shiba Inu left the major support and resistance levels untested early on.
For the day ahead
Shiba Inu would need to avoid the $0.0000295 pivot to bring the first major resistance level at $0.0000332 into play.
Support from the broader market would be needed, however, for Shiba Inu to break out from Monday’s high $0.00003203.
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 $0.000040 levels before any pullback. The second major resistance level sits at $0.0000357.
A fall through the $0.0000295 pivot would bring the 23.6% FIB of $0.00002831 and the first major support level at $0.0000270 into play.
Barring an extended sell-off, however, Shiba Inu should avoid the second major support level at $0.0000233. The 38.2% FIB of $0.00002387 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.0000270
Pivot Level: $0.0000295
First Major Resistance Level: $0.0000332
23.6% FIB Retracement Level: $0.00002831
38.2% FIB Retracement Level: $0.00002387
62% FIB Retracement Level: $0.00001668
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