Timeframe: 4 hours
$Current price: $0.2204 (+12.85%)
Technical Analysis:
Strong bullish momentum with price breaking above MA (7) at 0.2073 and MA (25) at 0.2132
Bullish reversal pattern formed after touching the low of 0.1484
High volume increase with 424.45M VELODROME / 88.98M USDT 24h volume
The price is currently testing key resistance after breaking out of the descending trendline.
Key levels:
Buy Zone:
1.Cooperation Set: $0.2073 (MA7)
2. Secondary Support: $0.1950
3. Big dip buy: $0.1851 (24 hour low)
Sell/Take Profit Zones:
1. Immediate resistance: $0.2313 (24-hour high)
2. Key Resistance: $0.2500
3. Extension target: $0.2800
Risk Management:
Stop loss below $0.1950.
Position sizes are recommended at 2-3% of the portfolio.
The trail stops when the price increases.
Key points:
The MA crossover between periods 7 and 25 is showing bullish momentum.
The volume profile supports upward movement.
The RSI is showing strength but is keeping an eye on overbought conditions.
Key to watch: Hold above MA(7) for continued bullish momentum.
