The price of SHIB rebounded from the recent support line, it struggles to hold above the $0.000026 level. As of writing, SHIB price trades at $0.0000255, declining over 0.6% in the last 24 hours.
For further gains, buyers need to push the price above the resistance at $0.000026 to set the stage for revisiting the $0.000029 mark. Successfully closing above $0.000029 would complete a bullish inverted head-and-shoulders pattern, potentially sending the price toward $0.0000395 and reaching the target of $0.000047.
On the other hand, a downturn in price that breaks below the 200-day EMA would suggest that the bears are taking control. This could lead the SHIB/USDT trading pair to decline toward the simple moving average (SMA) at $0.000022.
