$UTK has broken out of the second descending channel, signaling a possible bullish trend reversal. The current price correction to $0.090 support on the weekly timeframe is a critical point to watch. A successful bounce from this level could push the token towards exciting price targets. Let’s dive into the full details:
Buy Zone:
Ideal Entry Points:
🔹 Between $0.088 - $0.092
🔹 Wait for a clear confirmation of a bounce above $0.090 before entering.
Targets (Upside Potential):
1. First Target (T1): $0.150 – Initial strong resistance level.
2. Second Target (T2): $0.220 – Key zone to watch as it breaks higher.
3. Third Target (T3): $0.320 – Major resistance zone for mid-term holders.
4. Final Target (T4): $0.515 – High-confidence long-term target.
Stop Loss:
Place the Stop Loss at $0.078 to manage risk effectively. If the price dips below this level, the bullish setup might invalidate.
Indicators to Watch:
1. Volume: Look for rising volume on the bounce to confirm strong buyer interest.
2. RSI (Relative Strength Index): Stay above 50 for continued bullish momentum.
3. MACD: A bullish crossover would add confidence to the uptrend.
What’s Next.
Scenario 1 (Bullish): If the bounce from $0.090 is strong, $UTK is likely to rally towards $0.150 and beyond.
Scenario 2 (Bearish): A failure to hold $0.090 support might lead to a retest of lower levels, possibly around $0.078.
Pro Tip: Stay patient and follow your plan. Cryptocurrency trading involves risk, so manage your position sizes and avoid emotional decisions.
📢 Disclaimer: This is not financial advice. Do your own research (DYOR) and consult with a financial advisor before investing.
Ready to see $UTK fly. Let's watch it carefully and stay disciplined.
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