NTRN/USDT 1-Day Chart Analysis



1. General Charts and Formations



The chart shows that after a long-term downtrend, the price has made a strong upward breakout. The downtrend line has been broken upwards, increasing upward momentum. It is noticeable that there is a large wedge formation on the chart, and that this formation has been broken upwards. This indicates a potential trend reversal.



2. Support and Resistance Levels



• Support Level: The 0.4000 USD region acts as an important support. In case of a pullback, it is important for the price to remain above this level for the continuation of the rise.


• Resistance Levels:


• The first major resistance level is at 0.5500 USD.


• If the rise continues, 0.7000 USD and 1.0000 USD levels can be targeted.



3. Target and Price Potential



• Target 1: The 0.5500 USD level is the first important target that can be tested in the short term.


• Target 2: 1.0000 USD can be monitored as a potential main target if the trend continues in the medium term.



4. Trend Direction



• Uptrend: The price appears to be breaking the downtrend line and starting to rise and create higher lows and higher highs. This confirms that the trend is up.



5. Indicators



• Momentum Indicators: Momentum indicators such as the RSI (Relative Strength Index) may be approaching the overbought zone. This could indicate that short-term profit taking is imminent, but since the overall trend is upward, these corrections could create buying opportunities.


• Volume: If the breakout is supported by volume, it shows the strength of the rally. If volume increases at the point where the downtrend is broken, this is a positive sign.



6. Formations and Formation Reversals



• Wedge Formation: An upward breakout of an expanding wedge formation can be considered as a signal that the trend is turning upwards.


• Trend Reversal: In order for the uptrend to continue, it is important for the formation to make permanent closings above it.



7. Strategy and Recommendations



1. Buying Strategy: Buying positions can be considered as long as the price remains above the 0.4000 USD support level. It may be logical to add positions in pullbacks after the breakout.


2. Profit Taking and Stop-Loss: Consider taking profit at the first target level of 0.5500 USD. Stop-loss should be set below the level of 0.4000 USD. Positions can be held gradually for the target of 1.0000 USD in the medium term.


3. Risk Management: If the price falls below the support levels, stop loss levels should be activated. Attention should be paid to volumeless increases.



8. Conclusion and Comment



The NTRN/USDT pair seems to have broken out of the downtrend and entered a potential uptrend. A breakout of the wedge formation and a sustained price hold above this level could support further upward movement. Traders can implement buying strategies by paying attention to support levels and monitoring volume movements.