Shiba Inu bounced off the 20-day EMA ($0.000023) on November 21, indicating that the bulls continue to buy on dips.
Daily SHIB/USDT chart | Source: TradingView
The bulls need to push the price above the resistance level of $0.000026 to pave the way for a retest of the level at $0.000029. If the price breaks out and closes above $0.000029, this will complete the inverse head and shoulders bullish pattern, starting a rally to $0.000039 and then the pattern target at $0.000047.
Conversely, if the price falls and breaks below the 20-day EMA line, this will indicate that the bears are back. Then, the SHIB/USDT pair could drop to the SMA ($0.000020).
