SONIC/USDT – Breakout Setup (15m Chart)
Price is testing the descending trendline resistance after forming a potential higher low. A breakout from this trendline with strong volume may signal a bullish reversal.
Entry: Around 0.5825
Stop Loss: Below 0.5650
Target: 0.6248 - 0.6663
Risk/Reward ratio is favorable. Waiting for confirmation candle close above the trendline.
Not financial advice. Just sharing my analysis.
Price is testing the descending trendline resistance after forming a potential higher low. A breakout from this trendline with strong volume may signal a bullish reversal.
Entry: Around 0.5825
Stop Loss: Below 0.5650
Target: 0.6248 - 0.6663
Risk/Reward ratio is favorable. Waiting for confirmation candle close above the trendline.
Not financial advice. Just sharing my analysis.
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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.