Let's start with the chart analysis:
1. Summary of the Chart
• The chart shown shows a price movement in the daily time frame of the BOME/USDT parity.
• The price is approaching a resistance zone (green area) that has been tested for a long time.
• The support trend shows an upward trend, indicating that a positive trend is occurring.
2. Target and Prices
• Resistance Level: 0.01120 - 0.01150 USDT zone is a critical resistance area. If this level is broken above:
• Short Term Target: 0.0180 USDT
• Medium Term Target: 0.0250 USDT
• Long Term Target: 0.0320 - 0.0400 USDT levels can be targeted.
• Support Level: 0.00900 - 0.00950 USDT zone appears to be a strong support area. As long as the price can stay above this zone, the expectation of an upward movement can be maintained.
3. Indicators
• Trend Indicators:
• The price is using the upward trend line as support.
• This shows that the trend continues in a positive direction.
• Volume Analysis:
• Slight increases in volume have been observed in recent movements. A significant increase in volume can be expected with the breaking of the resistance zone.
4. Formation and Formation Reversals
• Formation:
• The price appears to have formed an ascending triangle formation.
• Ascending triangle formations generally result in upward breakouts.
• Potential Return:
• Once the resistance zone is broken, the price can be expected to continue its rapid upward movement.
5. Trend Direction
• The general trend is positive.
• The ascending support line is holding. This indicates that the price is in a strong uptrend, forming higher lows.
6. Strategic
• Acquisition Strategy:
• Purchases can be made after confirmation that the resistance zone has been broken (a close above 0.01120 USDT).
• Initial target is 0.0180 USDT, medium term target is 0.0250 USDT.
• Stop-Loss Level:
• If a daily close occurs below the 0.00900 USDT level, it is logical to place a stop.
• Risk Management:
• It may be a suitable strategy to not risk more than 2-3% of the portfolio.
7. Clear Recommendations and Comments
• The probability of the price breaking the resistance zone is high, but it is necessary to monitor the price movements in the resistance zone carefully.
• If the ascending triangle formation breaks upwards, a rapid rally can be expected.
• For short-term traders, a buying opportunity can be evaluated after the resistance break, and for long-term investors, these support levels can be an opportunity.
