Graphics and General Status:


• There is a structure on the chart that is breaking out of a downtrend. The price has broken upwards from the descending triangle formation and this may be a signal of a positive move.


• After the breakout, the price can be expected to head towards the first targets.



Support and Resistance Levels:


• Supports:


• 0.05868 (a major support level)


• 0.05288 (major support level)


• 0.05090 (bottom support zone)


• Resistors:


• 0.07526 (first target resistance level)


• 0.09621 (second resistance zone and strong resistance area)


• 0.11548 (long-term main target resistance)



Target and Prices:


1. First target: An increase towards the 0.07526 level can be expected.


2. Medium-term target: 0.09621 level.


3. Long-term target: 0.11548 level.



Formations and Formation Reversals:


• The triangle formation has broken upwards.


• This breakout usually indicates a continuing uptrend.



Trend Direction:


• Although the trend direction is upward, short-term corrections may occur.


• Moving averages (especially the 50 and 200 MA) indicate levels where the price finds support.



Indicators:


• Bollinger Bands: The price is trading in the middle of the bands, which indicates that the price is stuck and a volatile move may come soon.


• RSI: At neutral levels, but may gather strength for an upward move.


• MACD: There is a bullish crossover signal, which supports the rise.



Strategy and Advice:


1. Short-Term Transactions:


• By placing a stop-loss below the 0.05868 support, a purchase towards the 0.07526 target can be considered.


• Gradual purchases can be made in support areas (0.05868).


2. Medium and Long Term Transactions:


• The 0.09621 level is an important target to watch in the medium term.


• For long-term investors, 0.11548 levels could be a strong profit taking zone.


3. Risk Management:


• Stop-loss levels must be used.


• Especially if the 0.05868 support is broken, the position should be closed.



General Advice:


• Observe whether the price can maintain the support levels.


• The rise may be stronger if the trading volume increases and indicators confirm it. Therefore, volume should be followed.


• Gradual purchase and profit realization strategy should be adopted in targets.