Technical Indicators:
Moving Averages (15m)
MA(7): $0.04053 (price slightly below, indicating short-term weakness)
MA(25): $0.03999 (bearish crossover with MA(7))
MA(99): $0.03698 (price above, suggesting long-term bullish sentiment)
MACD: Minimal divergence, signaling reduced momentum.
RSI (6): Neutral to slightly bearish, indicating no immediate oversold conditions.
Chart Pattern
An Ascending Triangle pattern has been identified, characterized by higher lows converging towards a horizontal resistance line around $0.04114. This pattern typically suggests a potential bullish breakout upon surpassing the resistance level.
Trading Strategy:
Entry Point: Consider entering a long position upon a confirmed breakout above $0.04114.
Take Profit (TP): Set TP around $0.04500 to capitalize on upward momentum.
Stop Loss (SL): Place SL below the most recent higher low, approximately at $0.03950, to manage potential downside risk.