Peter Smith
SHIB bounces back above 50 EMA after fakeout breakdown, catching short sellers in classic bear trap.
Shiba Inu just pulled a classic bear trap that caught short sellers off guard. After breaking below the 50 EMA and testing $0.00000940 support, SHIB quickly reversed and reclaimed its position above the moving average.
SHIB Bear Trap Catches Short Sellers
The fake breakdown looked convincing at first. SHIB dropped below key support, making bears think they had an easy trade. But the token bounced right back above the 50 EMA, trapping shorts who jumped in expecting more downside. SHIB is now trading around $0.00000963.
SHIB Targets $0.00001350 After Bounce
With the bearish setup invalidated, traders are eyeing the $0.00001350 resistance level. A breakout above that zone with strong volume could signal a bigger rally ahead.
However, if SHIB fails to hold above the 50 EMA again, it could drop back toward $0.00000850 support. The Twitter analysis highlighting this bear trap noted how classic the pattern was, suggesting these reversals often lead to stronger moves.
The key now is whether SHIB can sustain above the 50 EMA and generate enough momentum to challenge the overhead resistance at $0.00001350.
Peter Smith
