Graphic Analysis:
1. Target and Prices:
• A falling wedge formation is observed on the chart. This formation generally results in an increase.
• If the formation is broken as the target price, 0.0145 levels can be followed as the first resistance, followed by 0.0160 levels as the main target.
2. Support and Resistance Levels:
• Support: The 0.0100 level stands out as a strong support area.
• Resistance: The first resistance point is 0.0110, then the 0.0145 level should be followed.
3. Indicators:
• There is no direct indicator on the chart. However, the area where the price is compressed indicates that momentum may increase and price movement may occur with volume.
• The accuracy of the breakout can be confirmed with indicators such as Bollinger Bands or RSI.
4. Formations and Formation Reversals:
• Falling wedge formation is evident. If this formation breaks upwards, it generally gives a strong bullish signal.
• Supports tested within the bullish formation make the formation stronger.
5. Trend Direction:
• Although the general trend is downward, there is a potential for a positive reversal in the short term. After the breakout, a transition to an uptrend can be expected.
6. Strategy:
• Buying Strategy: If the price closes above the 0.0110 level, a purchase can be made.
• Targets: The first target should be set as 0.0145, the second target as 0.0160.
• Stop Loss: A closing below 0.0095 should be considered as the stop level.
• Additional Volume Monitoring: It should be confirmed whether there is an increase in volume during the price breakout. If volume supports it, it may be a strong breakout signal.
Conclusion:
This chart and formation have bullish potential. However, it is recommended not to trade before the breakout is confirmed and to pay attention to risk management. In particular, volume and indicator signals should be followed.