The article discusses the current price movement of Shiba Inu (SHIB) and its potential for a rebound. Shiba Inu has experienced a decline along with Dogecoin, and its seven-day return is negative 7%. The article mentions that Shiba Inu's price action failed to break through a resistance trendline and is now testing a bullish support level. The bearish pressure has caused the moving averages to align and the price to enter a short-term lateral phase. However, there is a minor bullish divergence in the 4-hour RSI, which suggests a potential reversal. The article suggests that Shiba Inu could enter a new consolidation range between the 23.60% and 38.20% Fibonacci levels. If the price retests these levels, it could challenge the upper boundary of the potential consolidation range. Conversely, a bearish close below the psychological $0.000020 zone could lead to further decline.



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