🕒 Time frame: Daily
📈 Pattern Formation: Triple Bottom
📍 Current price: 0.1506USDT
📊 Key resistance levels:
• Immediate Resistance: 0.1550 USDT (already testing this area)
• Next major resistance: 0.2272 USDT
• Upper target resistance: 0.3240 USDT
📉 Support levels:
• Support zone: 0.10 USDT (multiple bounce zone from triple bottom)
🎯 Trading Setup:
• Buy Entry: The price broke the triple bottom pattern and is retesting the 0.1550 USDT area. If confirmed, this will be a bullish entry.
• Profit making objectives:
• TP1: 0.2272 USDT (Upper Resistance Level)
• TP2: 0.3240 USDT (long term target from breakout)
• Stop Loss: It is set below the 0.10 USDT support area to limit downside risks.
📈 Technical Overview:
• Triple Bottom Formation: A bullish reversal pattern that has formed over several months, indicating a potential strong upward move.
• Breakout Confirmation: The price is currently breaking the neckline at around 0.1550 USDT. If it holds above this level, it will indicate a continuation of the upside.
• Momentum: A strong increase in bullish volume shows an increase in buying pressure, confirming the possibility of an upward breakout.
🔮 Expected move:
The price is expected to rise towards 0.2272 USDT in the near term if the breakout holds, followed by a potential move towards 0.3240 USDT in the longer term, based on the measured move of the triple bottom pattern.
⚠️ Disclaimer: DYOR and NFA.
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