Shiba Inu Coin – Daily Tech Analysis – October 21st, 2021

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Shiba Inu Coin

Shiba Inu Coin rose by 4.32% on Wednesday. Reversing a 2.16% loss from Tuesday, Shiba Inu Coin ended the day at $0.00002923.

A mixed start to the day saw Shiba Inu Coin fall to an early afternoon intraday low $0.00002717 before making a move.

Shiba Inu Coin fell through the first major support level at $0.0000273 before rallying to a late intraday high $0.00002955.

The extended rally saw Shiba Inu Coin break through the 23.6% FIB of $0.00002838 and the first major resistance level at $0.0000290 to end the day at $0.0000293 levels.

At the time of writing, Shiba Inu Coin was down by 1.64% to $0.00002876. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00002924 before falling to a low $0.00002852.

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

For the day ahead

Shiba Inu Coin would need to avoid a fall back through the $0.00002870 pivot and the 23.6% FIB of $0.0000283 to bring the first major resistance level at $0.0000301 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000030 levels.

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 $0.000032 levels before any pullback. The second major resistance level sits at $0.0000310.

A fall back through the $0.0000278 pivot and the 23.6% FIB would bring the first major support level at $0.0000278 into play.

Barring an extended sell-off, however, Shiba Inu Coin should avoid the 38.2% FIB of $0.00002387. The second major support level at $0.0000263 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.0000278

Pivot Level: $0.0000287

First Major Resistance Level: $0.0000301

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



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