1. Price forecast (short-term, medium-term)
• Short-term: The chart shows that after a sharp rise, the price has started a correction. RSI indicates a possible decrease in buying pressure, which may lead to a price correction to the support level around $0.03100. However, as long as the price stays above the Ichimoku cloud and EMA 20, there is a possibility of continued growth.
• Medium term: If the upward trend continues and the price stays above $0.03100, growth to $0.03800 and $0.04200 is possible. It is important to monitor the volume dynamics and price behavior in the resistance area of $0.03539.
2. Support and resistance levels
• Support: $0.03100, $0.02743
• Resistance: $0.03539, $0.03800
3. Entry, exit, stop loss points for 🟢LONG positions
• Entry point: Entry into LONG is possible upon confirmation of a reversal from the $0.03100 level with a growth target to $0.03800 and $0.04200. It is important to wait for confirmation of the upward impulse, which can be expressed in the form of an increase in trading volume.
• Exit point: Around $0.03800 and above, depending on the strength of the upward movement.
• Stop Loss: Set below $0.03100 to limit losses in case of a downtrend.
4. Entry, exit, stop loss points for 🛑SHORT positions
• Entry point: SHORT entry is possible when the $0.03100 level is broken down and the price is fixed below this level. This will indicate a probable continuation of the correction.
• Exit point: At $0.02743 or lower, depending on the depth of the correction.
• Stop Loss: Set above $0.03539 to limit risks in case the price returns to growth.
5. LONG and SHORT scenarios with probability assessment
• 🟢LONG scenario: The probability of growth to $0.03800 while the price remains above $0.03100 is about 65%. It is important to take into account the behavior of the trading volume and the price remaining above the key EMA and the Ichimoku cloud.
• 🛑SHORT scenario: In case of a breakout of the $0.03100 level, the probability of a decline to $0.02743 is about 60%. Sell signals may intensify if the RSI goes into the oversold zone and the price consolidates below the Ichimoku cloud.
⚠️General conclusion
The market is currently showing signs of a possible correction after a strong rise. The key levels to watch will be $0.03100 and $0.03539, which will determine the further direction of the price movement.
Recommendations: Closely monitor the dynamics around the $0.03100 level. The decision to enter LONG or SHORT should be made only after confirmation of the trend direction, taking into account the current volatility. 🖌 Subscribe to stay up to date with the latest news! 🔔💰➡️🌀@INVESTIDEAUA
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