🔍 Key Technical Zones:
🔽 Descending Resistance Trendline: Price has touched and respected this level multiple times. A breakout above this trendline could signal a bullish move.
✅ Support Zone (Green Box):
Around $0.42 – price has held this level multiple times, forming the base of the wedge. A strong bounce from here increases bullish probability.
🔼 Immediate Resistance (Purple Box):
Around $0.45 – if the wedge breaks, this is the first resistance zone to watch.
🎯 Take-Profit Zone (Red Box):
Near $0.48 – a conservative TP area just below the major resistance zone to ensure filled orders.
🧠 Strategy Suggestion:
Entry idea: Consider long position on breakout above the descending wedge resistance with volume confirmation.
Stop-loss: Below the support zone ($0.42 or slightly lower).
Target: $0.45 to $0.48 area depending on risk appetite.
⚠️ Note:
Watch for false breakouts or wicks through trendlines.
Always manage risk — this is not financial advice.
🔽 Descending Resistance Trendline: Price has touched and respected this level multiple times. A breakout above this trendline could signal a bullish move.
✅ Support Zone (Green Box):
Around $0.42 – price has held this level multiple times, forming the base of the wedge. A strong bounce from here increases bullish probability.
🔼 Immediate Resistance (Purple Box):
Around $0.45 – if the wedge breaks, this is the first resistance zone to watch.
🎯 Take-Profit Zone (Red Box):
Near $0.48 – a conservative TP area just below the major resistance zone to ensure filled orders.
🧠 Strategy Suggestion:
Entry idea: Consider long position on breakout above the descending wedge resistance with volume confirmation.
Stop-loss: Below the support zone ($0.42 or slightly lower).
Target: $0.45 to $0.48 area depending on risk appetite.
⚠️ Note:
Watch for false breakouts or wicks through trendlines.
Always manage risk — this is not financial advice.
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.