Hi,
This is SHIB/USDT daily chart. A few days back, the price had dropped to 29-30 level. It was a fundamental support level. As we had expected, the price went rebound from there.
Now the price is getting the resistance at 37-38 level.
We had a rebound, but unfortunately, volumes are not convincing this time. If the price breaks the resistance, we could see a bullish rally in the near term.
Here is the trading plan.
If the price breaks the resistance, I shall place the stop-loss below the resistance that will turn into support. The target will be 53. The reward to risk ratio is 3.5.
If you like the idea, press the like button. I shall wait to hear from you in the comments.
This is SHIB/USDT daily chart. A few days back, the price had dropped to 29-30 level. It was a fundamental support level. As we had expected, the price went rebound from there.
Now the price is getting the resistance at 37-38 level.
We had a rebound, but unfortunately, volumes are not convincing this time. If the price breaks the resistance, we could see a bullish rally in the near term.
Here is the trading plan.
If the price breaks the resistance, I shall place the stop-loss below the resistance that will turn into support. The target will be 53. The reward to risk ratio is 3.5.
If you like the idea, press the like button. I shall wait to hear from you in the comments.