Graphic Analysis



1. General Charts and Formations



The symmetrical triangle pattern is clearly visible on the chart. Such patterns are usually considered a period of indecision, and the direction of the breakout determines the next major step in price action. The current pattern shows that the price is ready to breakout as it squeezes and approaches support and resistance levels.



2. Support and Resistance Levels



• Support Level: The trend line below is providing solid support around $1.00. Buying pressure may increase as the price approaches this level.


• Resistance Level: The upper edge of the triangle, the 1.13 USD level, is marked as a strong resistance point. If the upward breakout occurs above this level, buyers can be expected to step in and the price can rise rapidly.


• Main Target: It is stated as 2.00 USD. This target represents the upper region that the price can reach when the formation is broken.



3. Indicators



• Although there are no indicators specified in the chart, volume movements within the formation can be examined. An increase in volume may indicate that the breakout will be strong.


• Increasing volume during the breakout can be considered a safe buy signal.



4. Trend Direction



• Short Term Trend: Sideways and in consolidation.


• Medium and Long Term Trend: The trend will take shape according to the breakout direction. An upward breakout may initiate an uptrend.



5. Strategy and Recommendations



1. Breakout Tracking: The upper limit of the symmetrical triangle, the $1.13 level, should be closely monitored. A clear break above this level carries strong bullish potential.


2. Buying Strategy: If a close is seen above the 1.13 USD level, buying can be considered with volume support. It is possible that purchases will continue up to the 2.00 USD target.


3. Stop-Loss: For risk management, the stop-loss can be positioned below the support line, for example, below 1.00 USD.


4. Targets: The first target can be set as 1.50 USD, the second target as 2.00 USD. Profit taking can be evaluated at both levels.


5. Breakout to the Downside: If a breakout occurs to the downside, the price is more likely to enter a downtrend. In this case, it may begin to seek support at lower levels.



6. Conclusion and Comment



The chart shows a process of compression preparing for a strong price movement. The direction of the breakout will be decisive for investors. Investors are advised to be careful, manage their risks using stop-loss and trade with the increase in volume. In the event of a positive breakout, the target of 2.00 USD looks quite attractive, but in any case, caution should be exercised.