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Shiba Inu Coin – Bears Target a Slide to sub-$0.000030 Levels

This is the tech analysis for Shiba Inu Coin. We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s.

Shiba Inu Coin

Shiba Inu Coin fell by 3.40% on Friday. Following a 6.27% slide on Thursday, Shiba Inu Coin ended the day at $0.00003348.

After mixed start to the day, Shiba Inu Coin rose to an early afternoon intraday high $0.00003618 before hitting reverse. Falling short of the first major resistance level at $0.0000366, Shiba Inu Coin slid to a late intraday low $0.00003335.

Shiba Inu Coin fell through the first major support level at $0.0000335 to end the day in the deep red.

At the time of writing, Shiba Inu Coin was up by 0.99% to $0.0003381. A mixed start to the day saw fall to an early morning low $0.00003312 before rising to a high $0.00003417.

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

SHIBUSD 111221 Hourly Chart

For the day ahead

Shiba Inu Coin would need to move through the $0.0000343 pivot to bring the first major resistance level at $0.0000353 into play.

Support from the broader market would be needed, however, would be needed for Shiba Inu Coin to break back through to $0.000035 levels. Barring an extended crypto rally, the first major resistance level and Friday’s high $0.00003618 would likely cap the upside

In the event of an extended breakout, Shiba Inu Coin could test resistance at the 62% FIB of $0.000037. ธhe second major resistance level sits at $0.0000372.

Failure to move through the $0.0000343 pivot would bring the first major support level at $0.0000325 into play. Barring another extended sell-off, however, Shiba Inu Coin should avoid the second major support level at $0.0000315.

For the bears, a sustained fall through the 62% FIB of $0.000037 would form a near-term bearish trend.

Looking at the Technical Indicators

First Major Support Level: $0.0000325

Pivot Level: $0.0000343

First Major Resistance Level: $0.0000353

23.6% FIB Retracement Level: $0.00006987

38.2% FIB Retracement Level: $0.00005680

62% FIB Retracement Level: $0.00003700