🚨SUN COIN PRICE UPDATE 🚨
Looking at the chart (SUN/USDT on the weekly timeframe), here are the key observations and analysis:
1. Current Price Action:
The price has broken above a key consolidation/resistance area around $0.025 (highlighted in green), confirming bullish momentum.
The current weekly candle is strong, showing a significant increase of over 43%.
2. Volume:
The volume is considerably high compared to previous weeks, indicating strong buyer interest.
3. Potential Targets:
The measured move of 157.11% (as indicated on the chart) suggests a potential upside to approximately $0.043. This could act as a resistance or profit-taking zone.
4. Support Levels:
The breakout level of $0.025 should now act as support if the price retraces.
The previous consolidation zone could also serve as a demand area.
5. Risks:
Weekly candles show volatility. A retest of the breakout zone or a pullback is possible before further upside.
Trade Plan (If considering entry):
Long Entry: Enter on a retracement near $0.030-$0.032 for a better risk-to-reward ratio.
Stop Loss: Below $0.025 to manage risk.
Take Profit: Consider partial profit-taking at $0.043 and trail stops higher if the trend continues.
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