📊 Pattern wedge:
The chart shows a descending wedge, which could indicate a potential bullish reversal.
A break above the wedge resistance level may signal the start of a new uptrend.
🔍 Indicator:
Parabolic SAR: Currently indicates an upward movement (0.404).
Ichimoku indicator: The price is at the bottom of the cloud, which indicates a possible trend reversal if the price consolidates above the cloud.
📉 Support and resistance levels:
Support: about 0.45 (lower border of the wedge).
Resistance: the nearest resistance is at 0.70 (the upper boundary of the wedge), the further one is around 1.54.
💡 Forecast:
Optimistic scenario: The price may rise to 1.54, which corresponds to an increase of 199.04% from current levels.
Pessimistic scenario: If the support level of 0.45 is broken, a further decline to lower levels is possible.
⚠️ Risks:
🌟 General recommendations:
Traders: Closely monitor the breakout of key levels and confirmation of indicator signals.
Investors: Consider entering after confirmation of a trend reversal and price consolidation above the Ichimoku cloud.
🛠️ Support and technical analysis: Use the specified levels and indicators to clarify entry and exit points from a position.