1. Support and Resistance Levels
• Support: There is a horizontal support level on the chart that the price has stopped above several times. This area is located at approximately 0.082 levels. This area can provide support in case the price falls.
• Resistance: The upper trend line limits the upward movement of the price. Breaking this resistance line may trigger an uptrend.
2. Indicators and Volume
• Volume: The increase in volume in the last few candles is remarkable. The increase in volume is an important signal for the continuation of the trend.
• Trend: When the price is in a downtrend, it is currently showing signs of breaking out. This may increase the probability of the price going up.
3. Formations and Transformation
• Falling Wedge Pattern: The chart shows a falling wedge pattern. This pattern usually breaks out to the upside and carries strong bullish potential.
• Trend Break: Breaking the upper line of the formation may be the beginning of an uptrend.
4. Target and Prices
• If the price breaks the current resistance zone (around 0.092):
• First Target: 0.115
• Second Target: 0.135
• In a broader perspective, 0.20 levels can be tested.
5. Trend Direction
• While the overall trend is currently neutral-bearish, a breakout of the falling trend line could trigger an uptrend.
6. Strategy Proposal
1. Wait for Breakout: Buying can be done after confirming that the price has broken the falling trend line and the resistance level.
2. Stop-Loss Level: Setting a stop-loss below the support level, around 0.080, increases security.
3. Targets: The levels mentioned above can be taken as targets.
4. Watch Volume: A volume-supported breakout is a more reliable signal.
As a result, there is a high potential for the price to move upwards once the falling wedge pattern is broken. However, you should carefully monitor market conditions and support-resistance levels before trading.