COIN NAME : #AR/USDT

Trade setup:  Price is in an Uptrend, trading in a Channel Up pattern. However, it's nearing a $50 resistance where it got rejected recently. Now we look for the right entry opportunity in Uptrend. We wait for price to either 1) break above $50 to signal continuation of uptrend, with +20% upside potential to $60 next, or 2) pull back near $40 channel support trendline for another swing trade entry in Uptrend with +25% upside potential back to $50

Pattern: 

Price is trading in a Channel Up pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) - initiate a trade when the price breaks through the channel's trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout

Trend :

Short-term trend is Strong Up, Medium-term trend is Strong Up and Long-term trend is Strong Up.

Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).

Support and Resistance:

Nearest Support Zone is $37.00, then $23.00. Nearest Resistance Zone is $50.00, then $60.00

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