Shiba Inu (SHIB) is about to return? – AMBCrypto's perspective

After surging last week, Shiba Inu [SHIB] turned bearish as prices began to decline. Falling prices have pushed SHIB towards important support levels.

The price of memecoin increased significantly on May 29, allowing it to reach 0.00002924 USD.

But SHIB could not sustain the price increase and fell victim to multiple price corrections. AMBCrypto's analysis of memecoin's chart shows that the recent price drop has pushed its value to the critical support level of $0.00002437.

If SHIB fails to test the resistance and falls under it then investors could see the token drop to $0.000020.

On the other hand, a successful test of the support could kick-start a rally, which could result in SHIB touching $0.000029 in the coming days.

Data from the MACD technical indicator shows that bulls and bears are in a battle to gain an advantage over each other. But the rest of the indicators suggest that the bulls will likely win.

At the same time, Chaikin Money Flow (CMF) recorded gains and the Relative Strength Index (RSI) followed the same trend, indicating a successful test of support.