Shiba Inu Coin
Shiba Inu Coin fell by 0.58% on Tuesday. Following a 3.04% loss on Monday, Shiba Inu Coin ended the day at $0.00005487.
A bullish start to the day saw Shiba Inu Coin rise to an early morning intraday high $0.00005850 before hitting reverse
Shiba Inu Coin broke through the 38.2% FIB of $0.0000568.
Coming up against the first major resistance level at $0.0000586, however, Shiba Inu Coin fell to a late intraday low $0.00005333.
While falling back through the 38.2% FIB, Shiba Inu Coin avoided the first major support level at $0.0000523.
Finding late support, Shiba Inu Coin revisited $0.000056 levels before easing back.
At the time of writing, Shiba Inu Coin was up by 0.44% to $0.00005511. A mixed start to the day saw Shiba Inu Coin fall to an early morning low $0.00005437 before rising to a high $0.00005525.
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 $0.0000556 pivot to bring the 38.2% FIB of $0.0000568 and the first major resistance level at $0.0000578 into play.
Support from the broader market would be needed, however, for Shiba Inu Coin to break out from the 38.2% FIB.
Barring another extended crypto rally, the first major resistance level and Tuesday’s high $0.00005850 would likely cap the upside
In the event of a breakout, Shiba Inu Coin could test the second major resistance level at $0.0000607 before any pullback.
Failure to move through $0.0000556 pivot would bring the first major support level at $0.0000526 into play. Barring an extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000504.
Looking at the Technical Indicators
First Major Support Level: $0.0000526
Pivot Level: $0.0000556
First Major Resistance Level: $0.0000578
23.6% FIB Retracement Level: $0.00006987
38.2% FIB Retracement Level: $0.00005680
62% FIB Retracement Level: $0.00003700
This article was originally posted on FX Empire
