Analysis and Commentary



1. Graphic and Technical Structure



The structure seen on the chart shows that a long-standing downtrend is in the process of being broken. Specifically:


• The falling trend line has been successfully broken upwards.


• After the breakout, the price tests a critical resistance zone as a horizontal support-resistance reversal.


• The resulting structure can be evaluated as a descending wedge formation, which generally results in upward breaks.



2. Target and Prices



• Short-term target: 0.0085 – This zone is the previous horizontal resistance level.


• Medium-term target: 0.0167 – Main target area after the breakout, indicated on the chart.


• Long-term target: 0.0275 – In the broader perspective, it coincides with previous peaks.



3. Support and Resistance



• Support Levels:


• 0.0045: Horizontal support, breakout zone.


• 0.0039: Long-term dynamic support level.


• Resistance Levels:


• 0.0085: First significant horizontal resistance.


• 0.0167: The main medium-term resistance level.



4. Indicators



• RSI: Probably approaching 70 levels, indicating that overbought territory may be entered.


• Volume: An increase in volume is observed during the breakout, which supports the reliability of the upward move.


• EMA (20 and 50): The price is trading above the moving averages, confirming that the trend is up.



5. Formations and Formation Reversals



• Descending Wedge: The bullish breakout structure has been completed.


• Horizontal Support-Conversion: The broken resistance has now become a strong support.



6. Trend Direction



• Long-term trend: Upward.


• Medium-term trend: A tendency to break upwards after a horizontal movement.



7. Strategy and Recommendations



• Short-term transaction: Positions can be taken up to 0.0085 level by placing a stop loss above 0.0045.


• Medium term transaction: After the horizontal breakout, the position can be carried up to the level of 0.0167.


• Risk Management: If closings are seen below the critical support level of 0.0039, positions should be reviewed.



8. General Comment



The current structure gives positive signals for the end of the downtrend and the beginning of the uptrend. Due to high volatility, caution should be exercised and transactions should be made in accordance with the support-resistance levels. The increase in volume in particular is an indicator that supports the continuation of the rise.