If we make a detailed analysis on the graph:
Target and Prices
1. Current price level: 5.279 USDT.
2. Target zone: 9,500 USDT, which means an upside potential of approximately 87.23%.
3. Possible intermediate resistance levels: 6.50 USDT and 7.80 USDT.
Support and Resistance
• Support levels:
• 4.50 USDT: The nearest strong support of the current price.
• 4.00 USDT: Stronger and consolidation level of previous moves.
• Resistance levels:
• 5.50 USDT: Current resistance, if broken, upward movement may accelerate.
• 6.50 USDT and 7.80 USDT: Previous peaks and critical resistance areas.
Indicators
• RSI (Relative Strength Index):
• If the RSI is approaching the overbought zone (above 70), short-term corrections are likely.
• Moving Averages (MA):
• The short-term moving average (20 MA) is just below the price, which supports a short-term uptrend.
• Positive divergence from the long-term average (50 MA) indicates that the uptrend is intact.
• Volume: Resistance breakout with increasing volume can quickly carry the price to target levels.
Formations and Turns
• Falling Trend Line Breakout:
• The chart shows that the falling trend line has broken upwards. This is usually a positive signal.
• Potential Target:
• Depending on the size of the formation, the target level can be determined as approximately 9.50 USDT.
Trend Direction
• An upward trend dominates in the medium and long term. The previous downward trend has been broken and an upward movement has begun.
Strategy
1. Short Term Strategy:
• Positions can be opened around the current price of 5.279 USDT.
• The first target could be 6.50 USDT, the second target could be 7.80 USDT.
• 4.50 USDT can be used as the stop-loss level.
2. Long-Term Strategy:
• Positions can be carried up to the target area of 9.50 USDT.
• Risk can be minimized by making gradual purchases from support levels.
Suggestions and Recommendations
• It can be expected that the exit from this formation will continue in line with the increase in volume and the positive signals of the indicators.
• Risk management should be ensured by keeping stop-loss levels tight.
• Taking profit at intermediate resistances may also be considered.
This analysis provides short and long term opportunities based on price action and volume. However, it is important to follow current analysis as market conditions are constantly changing.