Shiba Inu price analysis

Shiba Inu’s $0.000031 relief rally is facing selling at the 38.2% Fibonacci retracement level of $0.000032, indicating that the bears are trying to stage a comeback.

If the price turns down and breaks below the 20-day EMA ($0.000028), it will increase the risk of a fall to the 50-day SMA ($0.000021). Such a sharp decline is likely to delay the start of the next leg of the up move.

Conversely, if the price rebounds off the 20-day EMA with strength, it will suggest solid buying at lower levels. The SHIB/USDT pair could then rise to $0.000035 and thereafter to $0.000039.

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