The MOVE/USDT chart shows an interesting price action. After completing an accumulation phase within the consolidation zone (highlighted in purple), the price successfully broke out to the upside, creating a Break of Structure (BOS) that signals a shift to a bullish trend. Currently, the price is retesting the yellow line (breakout zone), which now acts as a new support level.
If this retest holds and the price stays above the yellow line, there's strong potential for further upside with Fibonacci Extension targets:
- 127.20% (1.2891 USDT) as the first target,
- 161.80% (1.5178 USDT) as the second target, and
- 261.80% (2.4332 USDT) as the extended bullish target if momentum continues to build.
However, if the price fails to hold this support, a deeper correction could occur before resuming the uptrend. Keep an eye on this retest area to confirm the breakout. 🚀
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👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸