🔥 SHIBA V-Shaped Recovery: Move To New Highs?

Yesterday I made an analysis on the massive sell-off of SHIBA. In this analysis I wrote that I expected a V-shaped recovery. SHIBA is still on investors' minds and people are waiting to buy the dip.

As expected, the dip was bought up massively, launching the price up after a minor period of consolidation. Congratulations if you took the trade.

For now, I'm expecting the price to encounter strong resistance around the prior target area. If SHIBA manages to close a daily candle above this area in the coming days, we might see SHIBA making a full recovery, potentially a new all-time high in time.

However, there's also a big chance for a reversal from here, also depending on the general state of the market.

My advice would be to wait for the confirmation of the trend.

Happy trading!