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Shiba Inu (SHIB) Bottomed Out? 50% Reversal Flashes on Horizon

After a protracted decline, SHIB is currently trading at about $0.00002177, indicating that it is stabilizing. At $0.00002105, which has held steady over the last few sessions, the asset is testing critical support close to the 100 EMA. Even though SHIB seems to be holding its ground so far, a retest of the 200 EMA near $0.00002054 could occur if this level is not maintained.

If SHIB breaks important resistance levels, the double-bottom pattern indicates that it may be able to reverse its negative momentum. The 50 EMA, or $0.00002350, is the first obstacle. A more important resistance zone is located at $0.00002585. A 50% upward move could be possible if these levels are cleared, which could return SHIB to its most recent highs of about $0.00003500. But volume is still a problem.