Chart Analysis and Strategy



Target and Prices



• The chart shows that a key resistance level has been broken and the price is holding above this level. This may signal the start of a new uptrend.


• The target price is set at 10,804 USDT. This level represents a potential gain target of approximately 351.92%.



Support and Resistance Levels



• Support Levels:


• 2.50 USDT: Strong support near previous breakout level.


• 1.50 USDT: Starting point of the main uptrend.


• Resistance Levels:


• 4.50 USDT: Old horizontal resistance level.


• 10.80 USDT: Targeted peak.



Indicators



• Volume: The increased volume during the resistance breakout is noticeable. This shows that the uptrend is strongly supported.


• RSI: It may have moved into the overbought area. This may indicate a possibility of a short-term correction.


• MA (Moving Averages): Medium-term moving averages show an upward trend.



Formations and Formation Reversals



• Descending Channel Breakout: The price broke out of the downward channel it had been in for a long time and started to rise. This is a strong indicator of a trend change.


• Flag Formation: There is a structure that can be considered as a continuation formation. The target price may have been calculated according to this formation.



Trend Direction



• The general trend is upward. In particular, the breakout of the downward channel and the breach of a significant resistance level confirm that the trend has changed.



Strategic



1. Entry Point: Closes above 4.50 USDT can be a safe entry point.


2. Objectives:


• Short Term Target: 7.50 USDT (short term resistance).


• Long Term Target: 10.80 USDT.


3. Stop-Loss: A stop can be placed below the 2.50 USDT level.


4. Correction Expectation: RSI approaching the overbought region may increase the possibility of correction. In this case, new purchases from support levels may be considered.


5. Volume Monitoring: Continued volume growth will indicate that the rally is healthy. However, decreasing volumes may indicate correction or profit taking.



Conclusion



• This chart offers strong upside potential. However, how the price reacts to resistance levels should be watched carefully. Pullbacks to support levels can create buying opportunities. Risk control should be achieved by implementing the strategy plan in a disciplined manner.