1. Price forecast (short-term, medium-term)
Short-term: The price at the time of analysis is trading around $3.48. If it continues to hold above $3.61, growth to the next resistance levels of $4.17 and $4.89 is possible. If these levels are broken, the potential for further growth will be directed towards $5.67.
Medium-term: If the price consolidates above $3.61 and continues to rise, the medium-term increase target may reach $5.67, provided that the price maintains support above $3.21.
2. Support and resistance levels
• Support: $3.21, $2.97, $2.32
• Resistance: $3.61, $4.17, $4.89, $5.67
3. Entry points for a long position
• On breakout: Entry on breakout of $3.61 with volume confirmation, stop loss below $3.21, target $4.17 and further to $4.89.
• On a pullback: Entry after testing the $3.21 level with confirmation of the rebound, stop loss below $2.97. The targets are the same: $3.61 and $4.17.
4. Entry points for short positions
• On breakout: Entry upon breakout below $3.21, stop loss above $3.61. Target: $2.97 and $2.32.
• On a rebound from resistance: Enter short from the $4.17 level if the price fails to overcome it and shows signs of a downward reversal, with a target of $3.61, stop loss above $4.17.
5. Long and short scenarios with probability assessment
🟢 Long: If support at $3.21 is maintained and $3.61 is broken, the probability of further growth is estimated at 60-65%.
🛑 Short: If the support at $3.21 is broken, the probability of a decline to $2.97 and below is 35-40%.
Conclusion based on technical indicators and on-chain data
• Volume: Increased volume indicates buying interest, which supports the long scenario.
• Liquidation Levels: Liquidation volume on the map shows a cluster of positions around the $3.3 and $3.6 levels, indicating possible volatile moves in these areas.
• RSI: The RSI in the 73.25 zone indicates overbought conditions, which may lead to a correction, but with a strong trend, growth is possible.
• On-chain data: Increase in exchange reserves and active addresses indicates interest from large participants, which has a positive impact on the long scenario.
