Ankr / TetherUSUpdated ANKRUSDT is testing the key level
The current price action of ANKRUSDT indicates an interesting development as it tests the weekly resistance level. This resistance level has significance in the market as it has previously prevented the price from moving higher.
After an initial attempt at breaking out above the resistance level, the price of ANKRUSDT has retraced back to test it again. This suggests that the market is in a critical phase, awaiting further confirmation for a clear breakout. One important factor that is needed for a successful breakout is increased volume. Higher trading volume can provide additional momentum and market participation, indicating a stronger trend.
According to Plancton's Rules, a potential trading opportunity could arise if ANKRUSDT manages to break out above the resistance level at 0.026. This level serves as a key threshold that, if surpassed with sufficient volume, could indicate a new bullish trend. Traders adhering to Plancton's Rules might consider opening long positions once the breakout is confirmed.
In terms of price targets, the first target for the long position could be set at 0.029. This level represents a potential area of significant resistance or a subsequent price target where traders might consider taking profits or reassessing the market conditions.
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Follow the Shrimp 🦐
Keep in mind.
After an initial attempt at breaking out above the resistance level, the price of ANKRUSDT has retraced back to test it again. This suggests that the market is in a critical phase, awaiting further confirmation for a clear breakout. One important factor that is needed for a successful breakout is increased volume. Higher trading volume can provide additional momentum and market participation, indicating a stronger trend.
According to Plancton's Rules, a potential trading opportunity could arise if ANKRUSDT manages to break out above the resistance level at 0.026. This level serves as a key threshold that, if surpassed with sufficient volume, could indicate a new bullish trend. Traders adhering to Plancton's Rules might consider opening long positions once the breakout is confirmed.
In terms of price targets, the first target for the long position could be set at 0.029. This level represents a potential area of significant resistance or a subsequent price target where traders might consider taking profits or reassessing the market conditions.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
Note
Note
Cup and handle?
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