PHA/USDT Analysis



1. Target and Prices


• Target: The "Triple Bottom Pattern" formation seen in the chart has been completed and an upward movement is expected. The first target is specified as the 0.7615 level.


• Target Areas:


• First Target: 0.40 level (formation resistance).


• Second Target: 0.7615 level (main target).



2. Support and Resistance


• Support Levels:


• 0.1700 (formation base and strong support).


• 0.2000 (intermediate support level).


• Resistance Levels:


• 0.3200 (major horizontal resistance).


• 0.4000 (formation resistance, exceeding this area may accelerate the rise).


• 0.7615 (formation target).



3. Indicators


• Volume: An increase in volume is seen, which is positive for confirming the breakout of the formation.


• RSI: It may approach the overbought region, so profit taking at resistance levels may be considered.


• Moving Average: The price is trading above the 50-day moving average, which supports the positive trend.



4. Formations and Formation Reversals


• Triple Bottom: This formation is a trend reversal formation and has a potential to rise up to 150% if the price breaks upwards.


• Formation Target: Calculated as 0.7615.



5. Trend Direction


• Short-Term Trend: Upward, supported by strong volume growth.


• Long-Term Trend: After the formation breakout, the trend seems to have turned upward.



6. Strategy


• Short Term Transactions:


• A position can be opened when the 0.3200 resistance is broken.


• You may consider taking profit at the 0.4000 level.


• Long Term Transactions:


• As long as the price remains above the 0.1700 support, a buy strategy can be applied.


• Position can be carried up to the target level of 0.7615.


• Stop Loss: In case of falls below the 0.1700 level, a stop loss should be applied.



Conclusion and Comment


A strong “Triple Bottom” formation is striking in the PHA/USDT chart. The target price is set at 0.7615. Resistance levels should be followed carefully. If the rise is supported by volume, the probability of achieving the targets increases. It is important to create a strategy by managing risk.