1. Price forecast (short-term, medium-term)
Short-term forecast: In the coming days, the price may fluctuate within the current range with possible attempts to break through the resistance level at $1.00. However, the probability of a rollback back to the support at $0.80-$0.85 is high.
Medium-term forecast: If the $1.00 level is broken and secured, then further growth to $1.20 can be expected. Otherwise, a return to previous support levels around $0.70 is possible.
2. Support and resistance levels
Support:
$0.85 is the nearest support level where the price decline may slow down.
$0.70 is a strong support level that can keep the price from falling further.
Resistance:
$1.00 is the nearest resistance level, the overcoming of which may signal the beginning of growth.
$1.20 is the next key resistance level.
3. Entry, exit, stop loss points for a long position
Entry point: If the price breaks through and consolidates above $1.00, you can open a long position.
Exit point: It is recommended to close the position when the level of $1.20 is reached.
Stop Loss: Set at $0.85.
4. Entry, exit, stop loss points for short positions
Entry point: Enter a short position on a rollback from the $1.00 level with confirmation through a decrease in volumes.
Exit point: Close position at $0.70.
Stop Loss: Set at $1.05.
5. Long and short scenarios with probability assessment
đą Long script:
Condition: Breakout of the $1.00 level and consolidation above with confirmation through volumes.
Probability: 55%.
đ Short scenario:
Condition: Rollback from the $1.00 level and a decrease in volumes.
Probability: 60%.
â ïž General conclusion
With the current data, a rollback scenario and testing of lower support levels is likely in the short term. For more confident growth, a breakout and consolidation above the $1.00 level is necessary, which in the medium term may lead to reaching the $1.20 level. However, given the higher probability of a short scenario, caution should be exercised when trading in the current range.
