#EDU Price movement forecast (short-term, medium-term)
Short term forecast:
The graph shows an upward trend since the beginning of July. The price has broken through important resistance levels at 0.70 USDT and continues to move up. With the current momentum, the price could reach the 0.80 USDT level.
Mid-term forecast:
If the current uptrend continues, the price is likely to reach the next resistance level at 0.90 USDT and above. However, corrections to the support levels of 0.70 and 0.65 USDT are possible.
Support and resistance levels
Support:
0.70 USDT0.65 USDT
Resistance:
0.75 USDT (current level)0.80 USDT0.90 USDT
Possible entry, exit and stop loss points for a long position
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When the price corrects to the level of 0.70 USDT or 0.65 USDT with confirmation of a rebound.
Exit:
Resistance levels are 0.80 USDT and 0.90 USDT.
Stop loss:
Below the support level of 0.65 USDT, for example, at the level of 0.63 USDT.
Possible entry, exit and stop loss points for a short position
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In case of an unsuccessful attempt to overcome the resistance level of 0.75 USDT or 0.80 USDT with confirmation of a reversal.
Exit:
Support levels are 0.70 USDT and 0.65 USDT.
Stop loss:
Above the resistance level of 0.80 USDT, for example, at the level of 0.83 USDT.
Probability of scenarios (long and short)
A long scenario is more likely given the current uptrend and positive signals from indicators. A short scenario is possible if key resistance levels are reached and unsuccessfully attempted.
Assessing the likelihood of a scenario taking into account additional factors
Ancored RSI volume profile indicator: shows the stability of the current trend. Ichimoku Cloud indicator: the price is above the cloud, indicating an uptrend. Parabolic SAR indicator: the points are below the price, confirming the uptrend. EMA indicator: short-term EMA (20, 50) above long-term EMA (100, 200), indicating an uptrend. YK Round Levels Indicator: the 0.75 level is psychologically important, its breakdown could lead to strong growth. RSI Indicator: a value around 70 indicates a possible overbought condition, but the trend is still stable.
Additional data:
LiquidationHeatMap Chart: Shows significant short liquidations at 0.65-0.70, which supports the uptrend. Exchange Reserve: Declining reserves, indicating withdrawal of coins from exchanges and decreasing selling pressure. Net Deposits on Exchanges: Declining, also confirming decreasing selling pressure .Capital inflow: the predominance of capital outflow indicates a strengthening of the position of holders. Inflow of large holders: an increase in inflows, indicating the interest of large investors. Daily trading volume: an increase in volumes, confirming the interest of market participants. Growth of active addresses and new addresses: supports the upward trend.
Based on all the factors considered, the long scenario looks more likely.
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