1. Target and Prices
• Target 1: 0.0480 level (short-term resistance area).
• Target 2: 0.0800 level (major resistance after trend line break).
• Long-term target: Prices above 0.1500 can be expected.
2. Support and Resistance Levels
Supports:
• 0.0300 level (pre-breakout support).
• 0.0250 level (main support level, previous sideways movement zone).
Resistors:
• 0.0350 level (initial resistance, short term).
• 0.0480 level (main resistance, breakout target after price squeeze).
3. Indicators
• RSI (Relative Strength Index): If it continues to move above 50, it indicates that the upward momentum may continue.
• Volume: An increase in volume was observed after the breakout, indicating that the movement was supported.
• EMA (Exponential Moving Average): There is an upward intersection of EMA 50 and EMA 200, which gives a strong bullish signal.
4. Formations and Formation Reversals
• Formation: A long-term falling trend line breakout has occurred.
• Reversal: Closing above the line signals a trend reversal, indicating an upward movement in price.
5. Trend Direction
• An upward trend is expected in the short to medium term. There is a strong possibility that the price will move higher after the current breakout.
6. Strategy
• Short Term Transaction: Buy positions can be considered as long as it remains above 0.0300. Target level is 0.0480.
• Medium Term Transaction: If closings occur above 0.0480, the position can be increased and the target level can be focused on 0.0800.
• Stop Loss: Positions can be closed if closing occurs below 0.0300.
Comment:
The chart is giving a strong trend reversal signal. The volume-supported movement of the price after the breakout shows that buyers have taken control. It is possible to target profit taking by buying at support levels and resistances. The upward movement is likely to continue in the medium term.