Technical analysis by jawwadsaif about Symbol SHIB: Buy recommendation (12/27/2021)

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.