Shiba inu

Shiba Inu Coin – Daily Tech Analysis – October 30th, 2021

Shiba Inu Coin

Shiba Inu Coin rallied by 8.72% on Friday. Partially reversing a 13.01% slide from Thursday, Shiba Inu Coin ended the day at $0.00007491.

A bearish start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.0000610 before making a move.

While steering clear of the major support levels, Shiba Inu Coin fell through the 23.6% FIB of $0.00006897.

Finding early support, however, Shiba Inu Coin rallied to an early afternoon intraday high $0.00007746.

While breaking back through the 23.6% FIB, Shiba Inu Coin fell short of the first major resistance level at $0.0000860.

A mid-afternoon pullback saw Shiba Inu Coin fall back to $0.000071 levels before wrapping up the day at $0.0000749 levels.

At the time of writing, Shiba Inu Coin was down by 4.16% to $0.00007180. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00007494 before falling to a low $0.00007180.

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

For the day ahead

Shiba Inu Coin would need to avoid the $0.0000711 pivot to bring the first major resistance level at $0.0000813 into play.

Support from the broader market would be needed, however, for Shiba Inu Coin to break back through to $0.000080 levels.

Barring another extended crypto rally, the first major resistance level and Wednesday’s ATH $0.00008872 would likely cap the upside

In the event of another breakout, Shiba Inu Coin could test resistance at $0.00010 levels before any pullback. The second major resistance level sits at $0.000876.

A fall through the $0.0000711 pivot would bring 23.6% FIB of $0.00006897 and the first major support level at $0.0000648 into play.

Barring an extended sell-off, however, Shiba Inu Coin should steer clear of sub-$0.000060 levels and the 38.2% FIB of $0.0000568. The second major support level sits at $0.0000547.

Looking at the Technical Indicators

First Major Support Level: $0.0000648

Pivot Level: $0.0000711

First Major Resistance Level: $0.0000813

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

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