Support and Resistance Levels:
1. Support Levels:
• 0.23915: The level where the moving averages converge and the price makes a recovery.
• 0.12976: Strong support area where price has bounced in the past.
2. Resistance Levels:
• 0.30432: Resistance level near the current price.
• 0.40000: The previous peak area, the area where the price could receive a strong reaction.
Formations and Formation Reversals:
• An ascending triangle formation is observed on the chart in the short term. This may be a signal for the continuation of the rise.
• Rapid increases and decreases in the past indicate that market volatility is high.
Indicators:
• Moving Average (MA): The price is trading above the 50-hour moving average (blue line). This indicates that the short-term uptrend is continuing.
• Volume: The increasing volume in recent increases is noticeable. This indicates that buyers have entered the market and the rise is supported.
Trend Direction:
• Short-Term Trend: Uptrend. Price has made a strong recovery from support levels.
• Medium Term Trend: Neutral. However, it may rise with a strong break.
Strategy:
1. For Short-Term Investors:
• If a volume closes above the resistance zone of 0.30432, there is a potential for an increase up to 0.40.
• The stop-loss level can be determined below 0.23915.
2. For Medium Term Investors:
• If the price pulls back to the 0.23915 level, a buying opportunity can be evaluated.
• Targets should be 0.30432 and 0.40 levels respectively.
3. Risk Management:
• Since market volatility is high, it is important to adjust the investment size carefully.
• Another point to consider is that the trading volume supports the price movements.
General Comment:
There is a potential for the MOCAUSDT pair to continue its uptrend. However, whether the price can break the 0.30432 resistance is a critical factor. If this resistance is broken, the next target will be 0.40. In case of falling below the support levels, buying strategies should be reviewed.
