Weekly Chart (1W): $THE
Bullish Potential:
The current price is showing a small green candle after several consecutive red candles. This could be an early sign of a reversal if the upward momentum continues to develop.
The Stochastic RSI is not visible here, but it is likely already in the oversold territory of the previous trend.
Candle Pattern:
If this week's green candle manages to hold and close higher than the previous week's open, this could form a small "bullish engulfing" pattern or a "piercing line" pattern.
The main bullish target on the weekly chart is the resistance area around $1.60-$1.80.
Daily Chart (1D):
Bullish Potential:
There is visible accumulation in the green zone (called order block). This indicates a possible strong buying interest in the zone ($1.20-$1.00).
The current price has started to show higher lows, which is an early sign of an uptrend.
Stochastic RSI shows overbought conditions (98.08/96.35), but this may indicate momentum is building if volume supports.
Candle Patterns That Will Form:
If the price stays above $1.30 and manages to break through $1.40, then the pattern that can form is a "morning star" in the context of recovery.
If rejection occurs at $1.40-$1.50, the pattern that forms can be a "hanging man" or "inverted hammer" if there is selling pressure.
Conclusion:
The bullish potential is quite open, especially if the order block (green zone on the daily chart) manages to become strong support.
Pay attention to the resistance zone around $1.50-$1.80 for further validation of the uptrend.
Use an averaging strategy or wait for confirmation of a strong bullish candle before entering.