CELO / TetherUSUpdated CELOUSDT is testing the support
CELOUSDT had a rejection from the 0.618 Fibonacci level on the daily timeframe, indicating a strong level of resistance.
Additionally, there was another rejection from the dynamic resistance on the 4-hour timeframe, further highlighting the potential for a bearish trend. Currently, the market is testing the key support level at the $0.58 area, which may provide a critical level for traders to monitor.
If the price fails to hold above this support level, there could be an opportunity for traders to set a short position, according to Plancton's strategy.
–––––
Follow the Shrimp 🦐
Keep in mind.
Additionally, there was another rejection from the dynamic resistance on the 4-hour timeframe, further highlighting the potential for a bearish trend. Currently, the market is testing the key support level at the $0.58 area, which may provide a critical level for traders to monitor.
If the price fails to hold above this support level, there could be an opportunity for traders to set a short position, according to Plancton's strategy.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
Note
testing resistance after the breakout 
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.