ELON news, reporyedly spoke to Zelensky accompanying Trump on the call. Doge bullish af, but lets see how to play the mutt
1. Support and Resistance Levels:
There is clear upward movement, with the current price at 0.20219 and previous resistance levels around 0.18232 and 0.13868, which might now act as support levels in case of a retracement.
The recent breakout above 0.18232 could signify a strong bullish continuation.
2. Moving Averages:
The 50, 100, and 200 MAs are trending upward, with the 50 MA above the 100 and 200 MAs, indicating a bullish alignment.
Price is trading significantly above these MAs, showing a strong bullish sentiment.
3. Trend Direction and Order Blocks:
There is a clear bullish trend, with consecutive higher highs and higher lows.
The breakout above the recent highs indicates potential demand and momentum in the market.
4. RSI:
The RSI is at a high level (80.55), which often indicates overbought conditions. This could imply a potential pullback or consolidation before the next upward move.
5. Volume:
High volume on the recent green candle suggests strong buying pressure, confirming the breakout above 0.18232.
Conclusion:
Entry: Waiting for a pullback near the 0.18232 level, aligning with prior resistance and potential support, could provide a high-probability entry with bullish confluences from MA support and trend direction.
Stop Loss: Below 0.13868 to avoid minor fluctuations.
Take Profit: Potential profit targets could align with round-number levels above, such as 0.225 or higher, if the trend continues and volume supports the breakout.
This analysis suggests a continuation of the bullish trend, with possible entries on pullbacks. However, be cautious of the overbought RSI, as it may signal a short-term retracement.
