The light blue highlighted area represents a strong demand zone around the 0.004561 - 0.006555 range.
This level has been a significant support in the past, preventing further upnside movement.
Trendline Break: The downtrend line appears to have been broken recently, indicating a potential shift from bearish to bullish sentiment.
The price begins forming a rounded bottom pattern, suggesting a potential reversal.
A key resistance level is identified at 0.015000, the projected target for the upward movement.
Ensure proper position sizing to avoid overexposure to market volatility.
This level has been a significant support in the past, preventing further upnside movement.
Trendline Break: The downtrend line appears to have been broken recently, indicating a potential shift from bearish to bullish sentiment.
The price begins forming a rounded bottom pattern, suggesting a potential reversal.
A key resistance level is identified at 0.015000, the projected target for the upward movement.
Ensure proper position sizing to avoid overexposure to market volatility.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
iSmashProfit
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.