In our last look at SHIB-USDT (see linked idea), we were hoping for a Higher Low to form which would signal short-term bullishness. Instead, price action has followed our bearish path and is now retesting the support line. I think a bounce from this level is reasonable, but it might just be a temporary bounce as we run into further overhead resistance. Overall, SHIB looks interesting at these levels. However, if the support line breaks, bulls will need to hope the 200 EMA comes to the rescue.
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These are my personal views and not financial advice. Please do your own research before investing.
I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly.
If you appreciated this analysis, consider Liking or Following. Thanks!
