$SHIB

It has pulled back to the 20-day EMA ($0.000021), an important level to watch.

If the price rebounds off the 20-day EMA, the bulls will again attempt to push the SHIB/USDT pair above $0.000029. If successful, the pair will complete a large bullish inverse head and shoulders pattern. The pair could rally to $0.000039 and then to the pattern target of $0.000047.

This bullish view will be invalidated in the near term if the price continues lower and breaks below the moving averages.