Tags: Crypto Market
Daily Tech Analysis - Shiba Inu

Daily Tech Analysis – Shiba Inu

On Saturday, Shiba Inu fell by 2.03%. Partly it worked as a reverse from Friday 18.87% breakout when Shiba Inu finished the day at $0.00002671.

Before hitting reverse, it served as a mixed start to the day when Shiba Inu rose to its intraday high of $0.00003022.

 

Shiba Inu broke through the 23.7% FIB of $0.00002832 after falling from the first significant resistance level at $0.00003200.

However, this reversal saw Shiba Inu push back through the 23.7% FIB to a new intraday low of $0.00002445 during the afternoon.

However, before falling back into the red, Shiba Inu returned to its $0.0000273 levels.

Today, Shiba Inu was down by 1.08% to $0.00002642. A mixed start to the day – Shuba Inu progressed to its high of $0.00002699 early morning. It happened before falling to its low of $0.00002624.

Shiba Inu would demand to go through the $0.0000275 axis to bring the 23.7% FIB of $0.00002832 with the first significant resistance level at $0.0000304. However, Shiba Inu would need support from the broader market to break out from the 23.7% FIB of $0.00002832.

Besides an extensive crypto rally, Saturday’s high $0.00003200 and the first significant resistance level would cap the upside trend.

In the case of another breakout, before any pullback, Shiba Inu might test resistance at $0.000037 levels. The second primary resistance level remains at $0.0000338. Failure to get to the $0.0000275 pivot would pull the first primary support level at $0.00002382 into play and the 38.3% FIB of $0.00002388.

Besides discarding another extended sell-off, Shiba Inu could avoid the second primary support level at $0.00002082.

 

Shiba Inu Technical Indicators

 

FMSL (First Major Support Level): $0.00002480

Pivot Level: $0.00002750

FMRL (First Major Resistance Level): $0.00003040

23.5% FIB Retracement Level: $0.00002832

38.3% FIB Retracement Level: $0.00002386

63% FIB Retracement Level: $0.00001669

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