Shiba Inu (SHIB) dropped from $0.000033 on December 8 and fell below the 20-day EMA ($0.000028) on December 9.
Daily SHIB/USDT chart | Source: TradingView
The bulls are trying to push the price back above the 20-day EMA but are likely to face strong resistance from the bears. If the price falls from the 20-day EMA, the bears will again try to push the SHIB/USDT pair below the 50-day SMA. If that happens, this pair could drop to $0.000020.
If the bulls want to stop the downtrend, they will have to quickly push the price back above $0.000028. Then, this pair could rise to $0.000033, which is expected to create a significant challenge.
