Technical Analysis (INO/USDT Chart)



1. Chart Review:


• The price action has broken the long-term falling trend line upwards. This can be interpreted as a possible trend reversal signal.


• It is observed in the chart that upward targets have become evident with the expectation that the rise will continue.



2. Target and Prices:


• Target 1: 0.90 - 1.00 USDT: Can be monitored as the first resistance zone.


• Target 2: 1.50 - 2.30 USDT: Long-term resistance targets can be considered as achievable levels, especially if the current formation is completed.



3. Support and Resistance Levels:


• Support Levels:


• 0.55 USDT: Nearest support after breakout.


• 0.40 USDT: Stronger, lower support level.


• Resistance Levels:


• 0.70 USDT: First short-term resistance.


• 0.90 - 1.00 USDT: Psychological resistance zone.



4. Indicators:


• Volume: Increasing volume during the breakout indicates that the upward move is strong.


• RSI: It may be approaching overbought levels, increasing the possibility of a short-term correction.


• MACD: An upward crossover supports an uptrend.



5. Formations and Formation Reversals:


• Falling Wedge Formation: It has broken upwards and the expectation of an increase in line with the targets has increased.


• Trend Reversal: It appears that the downtrend has ended and an upward trend has begun.



6. Trend Direction:


• Short Term Trend: Upward.


• Medium Term Trend: The upward trend continues.


• Long Term Trend: Trend reversal signals are available.



7. Strategy and Recommendations:


• Buying Strategy: Buying can be done at current levels, but pullbacks to support zones (e.g. 0.55 USDT) can also be followed.


• Stop-Loss: Closing below 0.40 USDT indicates that the trend may be disrupted, and a stop-loss can be placed at this level.


• Profit Taking Strategy: Gradual profit taking can be considered at 0.90 - 1.00 USDT levels.


• Risk Management: Transactions should always be opened by performing risk management, and a small portion of the portfolio should be put at risk.



Conclusion



The chart indicates a strong upward breakout. If this movement continues, the set targets can be reached. However, caution should be exercised at overbought levels and a risk management strategy should be implemented.