Time frame: 4 hours
$Current Price: $0.2204 (+12.85%)
Technical Analysis:
Strong bullish momentum with price breaking above MA(7) at 0.2073 and MA(25) at 0.2132
Formation of bullish reversal pattern after touching low of 0.1484
High volume surge with 424.45M VELODROME / 88.98M USDT 24h volume
Price currently testing key resistance after breaking out of descending trendline
Key Levels:
Buy Zones:
1. Strong support: $0.2073 (MA7)
2. Secondary support: $0.1950
3. Major dip buy: $0.1851 (24h low)
Sell/Take Profit Zones:
1. Immediate resistance: $0.2313 (24h high)
2. Major resistance: $0.2500
3. Extended target: $0.2800
Risk Management:
Stop loss below $0.1950
Position sizing recommended at 2-3% of portfolio
Trail stops as price moves up
Key Points:
MA crossover between 7 and 25 periods showing bullish momentum
Volume profile supporting the upward move
RSI showing strength but watch for overbought conditions
Key to watch: Hold above MA(7) for continued bullish momentum