Technical analysis by paper_Trader1775 about Symbol SHIB on 5/22/2025

SHIB at this time is forming a double bottom in a parallel channel on the daily. It's also on an upward trend line and recently made Higher Highs and Higher Lows. However, it is still under the 200 EMA 0.00001602(in orange). If SHIB falls below 0.00001410 and makes a clear break of the downward trendline we might test the Demand Zone around the 0.00001260- 0.00001290 range. Please be careful of fakeouts and liquidation in either direction. Have a nice day.