Streamr (DATA), a decentralized platform for real-time data sharing, has caught the attention of traders with its recent price action. After a challenging period, the token seems to have entered a reversal phase, offering intriguing opportunities for both intermediate and longer-term setups.

Previous Setup Overview

At the end of September, a trade setup was proposed with a target entry around the 0.046 resistance level. However, DATA was rejected at that level, preventing the entry point from materializing. Despite this, the outlook for DATA remains promising, with further opportunities to capitalize on future price movements.

Intermediate Trade Setup

Since hitting a bottom in August, DATA has reversed into an uptrend, with the trendline now acting as support. Last Monday’s correction provided a pivotal moment, as DATA bounced off this trendline, signaling continued upward momentum. While there is a possibility of another test of the trendline in the short term, the general expectation is for DATA to approach the 0.046 resistance level again.

This intermediate setup offers a potential for a 20% profit based on the current price, assuming a move toward the 0.046 resistance. A well-placed stop loss just below the trendline provides a solid risk management strategy, giving traders a risk/reward ratio of approximately 3.

Playing it Safe: Waiting for Confirmation

For those who prefer a more conservative approach, waiting for a clean breakout above the 0.046 resistance level may be a safer option. A confirmed break above this resistance could trigger a strong upward movement, with targets set at 0.06 and 0.08. This strategy offers significant profit potential, with a 33% gain toward 0.06 and a 68% gain toward 0.08.Summary of Trade Setups

1. Intermediate Trade Setup:

- Buy on a bounce from the trendline, targeting the 0.046 resistance.

- Profit potential: 20%.

- Stop loss: Slightly below the trendline.

- Risk/Reward Ratio: ~3.

2. Safe Setup:

- Wait for a confirmed break above 0.046 resistance.

- Profit potential:

- 0.06 target: 33% gain.

- 0.08 target: 68% gain.

Final Thoughts

Streamr (DATA) presents a strong trading opportunity in the current market conditions. The token's reversal from the August lows and its recent uptrend suggest that both intermediate and longer-term trades could yield significant profits. Whether you opt for the more aggressive intermediate setup or prefer to wait for confirmation above key resistance levels, the risk/reward profiles in these setups are favorable for traders looking to capitalize on DATA’s price movements.