Current Price:
$0.7694 (up +1.28%)
Key Observations:
1. Ascending Trendline:
The price is moving along a clear ascending trendline, showing short-term bullish momentum.
The price is making higher highs and higher lows.
2. Immediate Resistance Zone:
Price is approaching a resistance zone around $0.79–$0.80.
This area could act as a strong supply zone.
3. Support Zones:
Minor support near $0.757–$0.760 (recent breakout zone).
Major support lies between $0.740–$0.745.
4. Moving Average:
Price is trading above the blue EMA line, indicating buyers are currently in control.
Possible Trading Scenarios:
Bullish Scenario:
If the price holds above the ascending trendline and breaks the $0.78 resistance:
Long Entry: Above $0.780
Target 1: $0.79
Target 2: $0.82
Stop Loss: Below $0.765
Bearish Pullback Scenario:
If the price gets rejected from $0.78–$0.79 and breaks below the trendline:
Short Entry: Below $0.760
Target 1: $0.750
Target 2: $0.740
Stop Loss: Above $0.770
$0.7694 (up +1.28%)
Key Observations:
1. Ascending Trendline:
The price is moving along a clear ascending trendline, showing short-term bullish momentum.
The price is making higher highs and higher lows.
2. Immediate Resistance Zone:
Price is approaching a resistance zone around $0.79–$0.80.
This area could act as a strong supply zone.
3. Support Zones:
Minor support near $0.757–$0.760 (recent breakout zone).
Major support lies between $0.740–$0.745.
4. Moving Average:
Price is trading above the blue EMA line, indicating buyers are currently in control.
Possible Trading Scenarios:
Bullish Scenario:
If the price holds above the ascending trendline and breaks the $0.78 resistance:
Long Entry: Above $0.780
Target 1: $0.79
Target 2: $0.82
Stop Loss: Below $0.765
Bearish Pullback Scenario:
If the price gets rejected from $0.78–$0.79 and breaks below the trendline:
Short Entry: Below $0.760
Target 1: $0.750
Target 2: $0.740
Stop Loss: Above $0.770
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.