Graphic Analysis



The chart shows that the price broke out of the downtrend channel and this move resulted in a strong rally. After the breakout, the price gained value rapidly and broke through important resistance levels.



Target and Prices


• Short Term Target: Price may test the 0.40-0.42 band. This region may form a psychological resistance area.


• Medium Term Target: If the upward movement continues, 0.50 and 0.60 levels can be targeted.


• Long Term Target: A close above 0.70 may bring the 0.80-0.90 levels into question.



Support and Resistance Levels


• Support Levels:


• 0.34 (old resistance, new support)


• 0.30 (main support)


• Resistance Levels:


• 0.42 (short-term resistance)


• 0.50 and 0.60 (medium-term resistance levels)



Indicators


• RSI: It may be in the overbought area, a short-term correction may occur.


• Volume: Increasing volume during the rise indicates that the movement is healthy.


• MACD: In positive territory and buy signal continues.



Formations and Formation Reversals


• Falling Channel Breakout: The upward breakout indicates the start of a trend reversal.


• Bull Flag: A new bull flag formation may be observed after a possible correction.



Trend Direction


• It is clearly seen that the price is currently in an uptrend. The breakout of the falling channel shows that buyers are in control of the market.



Strategy and Advice


1. Purchase Strategy:


• A buying opportunity can be evaluated in possible pullbacks to 0.34 levels.


• Target levels can be planned as 0.42 and 0.50.


2. Sales Strategy:


• Gradual sales can be made at 0.42 and 0.50 resistances.


• Targets can be increased in high volume and strong closings.


3. Stop Loss:


• Positions should be reviewed at daily closings below 0.30.


4. Risk Management:


• Caution should be exercised in the overbought region, and gradual purchases and sales should be planned.



Conclusion



The uptrend is expected to continue. However, since the overbought region may have been reached, short-term corrections should be prepared. High volume upward breakouts may bring new peak targets to the agenda.