Shiba Inu Coin
Shiba Inu Coin slid by 12.79% on Saturday. Reversing an 8.72% rally from Friday, Shiba Inu Coin ended the day at $0.00006533.
A mixed start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.0000780 before hitting reverse.
Falling well short of the first major resistance level at $0.0000813, Shiba Inu Coin slid to a late intraday low $0.0000615.
Shiba Inu Coin fell through the 23.6% FIB of $0.00006897 and the first major support level at $0.0000648.
Finding late support, however, Shiba Inu Coin broke back through the first major support level to end the day at $0.000065 levels.
At the time of writing, Shiba Inu Coin was up by 0.72% to $0.00006580. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00006477 before rising to a high $0.00006600.
Shiba Inu Coin left the major support and resistance levels untested early on.
For the day ahead
Shiba Inu Coin would need to move through the $0.0000683 pivot and the 23.6% FIB of $0.00006897 to bring the first major resistance level at $0.0000751 into play.
Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000070 levels.
Barring another extended crypto rally, the first major resistance level and Saturday’s high $0.0000780 would likely cap the upside
In the event of another breakout, Shiba Inu Coin could test resistance at $0.00090 levels before any pullback. The second major resistance level sits at $0.0000848. Shiba Inu Coin would need plenty of support, however, to breakout from Wednesday’s ATH $0.00008872.
Failure to move through the $0.0000683 pivot would bring the first major support level at $0.0000586 and the 38.2% FIB of $0.0000568 into play.
Barring an extended sell-off, however, Shiba Inu Coin should steer clear of sub-$0.000050 levels. The second major support level at $0.0000518 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.0000586
Pivot Level: $0.0000683
First Major Resistance Level: $0.0000751
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
