$SHIB

It rose above the $0.000030 resistance on December 1, completing a bullish inverse head and shoulders pattern.

If buyers sustain the price above $0.000030, the SHIB/USDT pair could move to $0.000039. This level could pose a strong challenge, but if buyers prevail, the pair could rally to the pattern target of $0.000047.

Alternatively, if the price fails to sustain above $0.000030, it will indicate that the breakout may have been a bull trap. The pair could then slide to the 20-day EMA ($0.000025), which should attract buyers.

The pair closed above the $0.000030 resistance on the 4-hour chart, but the bears are unlikely to give up easily. They will attempt to pull the price back below the breakout level. If they succeed, the pair could break down towards the 20 EMA.

Contrary to this assumption, if the price sustains above $0.000030, it will signal that the level is likely to act as a new floor. There is a minor resistance at $0.000035, but it is expected to be crossed. This could start a move towards $0.000039.