Analysis



1. Charts and Formations


• The chart clearly shows a round bottom formation. This formation generally indicates a trend reversal and creates an expectation of upward movement.


• The upper horizontal resistance zone has been tested three times and is about to be broken. This indicates that a significant threshold is being crossed for the formation to be completed.


• The symmetrical triangle formation is also noteworthy; this formation generally presents a strong breakout direction after compression.



2. Support and Resistance Zones


• Support: The 3.00 USD zone stands out as a strong support. As long as this level remains above, buyers are expected to be active.


• Resistance: The main resistance area is the $3.84 level. Closes above this level increase the potential to reach targets above $5.00.



3. Target and Prices


• Short Term Target: The 4.50 USD level can be determined as the first resistance area.


• Medium Term Target: 5.00-5.50 USD zone. These levels can be tested quickly once the formation is completed.


• Long Term Target: Levels above 8.00 USD may be a potential target if trend continuity is achieved.



4. Indicators


• RSI: It is likely approaching the overbought territory. This may indicate strong upward momentum.


• Volume: Increasing volume during the breakout supports the credibility of the upward move.


• Moving Averages (EMA): The price being above the EMAs confirms that the uptrend is continuing.



5. Trend Direction


• A strong upward trend is observed. If the critical resistance is broken, the trend may gain further momentum.



6. Strategic


• Buying Strategy: Buying can be done at closes above 3.84 USD. This region can trigger a strong rise.


• Take Profit Points: Gradual profit taking can be considered at the levels of 4.50 USD and 5.50 USD.


• Stop Loss: Closing below 3.00 USD may invalidate the bullish scenario; therefore, it can be determined as the stop-loss level.



Conclusion


• The chart gives strong signals that the uptrend will continue.


• If the resistance levels are broken, significant price increases can be expected in the medium and long term.


• Stop loss point and gradual profit taking should not be forgotten for risk management.