1. Price forecast (short-term, medium-term)
• Short-term forecast: The price is trading around the level $0.3775, and upon breaking $0.4 (round level), a rise to $0.5208 is possible, which also coincides with a key Fibonacci level (0).
• Medium-term forecast: Upon breaking the level $0.5208, further growth may bring the price to levels $0.5936 (-0.27 Fibonacci) and $0.6880 (-0.62 Fibonacci), which will serve as the next resistance zones. If the price cannot hold above $0.4, a pullback to $0.2 is likely, which is supported by volumes.
2. Support and resistance levels
• Support: $0.3860 (0.5 Fibonacci), $0.3536 (0.62 Fibonacci), $0.3078 (0.79 Fibonacci), $0.2512 (1.0 Fibonacci), $0.2 (level supported by volumes on the profile).
• Resistance: $0.4 (round level), $0.4360 (-0.27 Fibonacci), $0.5208 (level 0 Fibonacci), $0.5936 and $0.6880 (Fibonacci levels).
3. Entry, exit points, stop-loss for long position
• Entry: Upon breaking the level $0.4 with volume confirmation and a close above it. An entry can also be considered on a pullback to the support $0.3860 with reversal signals.
• Exit: Target levels for profit-taking — $0.4360, $0.5208 and $0.5936.
• Stop-loss: Below the level $0.3536.
4. Entry, exit points, stop-loss for short position
• Entry: Upon a rebound from the level $0.4 with signs of a downward reversal, also considering the decrease in volumes.
• Exit: Profit-taking upon reaching support levels $0.3536 or $0.3078.
• Stop-loss: Above $0.4.
5. Long and short scenarios with probability assessment
• 🟢 Long: The probability of growth to the level $0.5208 upon a successful breakout at $0.4 is approximately 65%, considering support from volumes and liquidity.
• 🛑 Short: If the price fails to stay above $0.4, a pullback to $0.3536 and $0.3078 is likely with a probability of about 35%.
⚠️Overall conclusion
Considering the current levels of support and resistance, volumes, and liquidity, there is a high probability that upon breaking the level $0.4, the asset may reach the level $0.5208.
