#cryptotradingpro

$SHIB is nearing a local technical bear market after falling by over 17% from its highest point this month.

On the positive side, there are signs that the $SHIB price has bottomed. The daily chart shows that it is stuck at the 100-day Exponential Moving Average.

It has also formed a cup and handle pattern, with the upper side at $0.00001733. The recent decline is part of the formation of the handle section.

This cup has a depth of about 40%. Therefore, measuring the same distance from its upper side brings the target at $0.00002443. This is a notable target since it coincides with the highest point in January.