Shiba Inu Coin
Shiba Inu Coin jumped by 17.4% on Monday. Following a 6.50% rally on Sunday, Shiba Inu Coin ended the day at $0.00004230.
A mixed start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00003499 before making a move.
While steering clear of the first major support level at $0.0000311, Shiba Inu Coin fell through the 23.6% FIB of $0.00003528.
Finding early support, however, Shiba Inu Coin rallied to a late intraday high $0.00004361.
Shiba Inu Coin broke through the first major resistance level at $0.0000428 before easing back.
At the time of writing, Shiba Inu Coin was down by 1.84% to $0.00004152. A mixed start to the day saw Shiba Inu Coin rise to an early morning high $0.00004296 before falling to a low $0.00004100.
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 $0.0000403 pivot to bring the first major resistance level at $0.0000456 into play.
Support from the broader market would be needed, however, for Shiba Inu Coin to break out from Sunday’s ATH $0.00004463.
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 $0.000050 levels before any pullback. The second major resistance level sits at $0.0000489.
A fall through the $0.0000403 pivot would bring the first major support level at $0.0000370 into play.
Barring an extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000317. The 23.6% FIB of $0.00003528 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $0.0000370
Pivot Level: $0.0000403
First Major Resistance Level: $0.0000456
23.6% FIB Retracement Level: $0.00003528
38.2% FIB Retracement Level: $0.00002950
62% FIB Retracement Level: $0.00002020
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This article was originally posted on FX Empire