Get started
CFX / TetherUS
Long

CFX → a possible move

By melikatrader94
Updated
hello guys.

let's analysis BINANCE:CFXUSDT!

1. Consolidation Phase:

  1. The price has been moving sideways, trapped between two key levels: a support zone around $0.1230 and a resistance zone around $0.1465.
  2. This consolidation is marked by the yellow rectangles, indicating areas where the price has found significant support and resistance.


2. Resistance Zone:

  1. The resistance level at $0.1465 is critical. During the recent consolidation phase, the price has struggled to break above this level.
  2. If the price can break through this resistance, it would signal a potential shift from the consolidation phase to an upward trend.


3. Bullish Scenario:

  1. Upon breaking the resistance at $0.1465, the price will likely target the next resistance level at $0.1707.
  2. This move would represent a continuation of the bullish trend from the current support level and could signify renewed buying interest.


4. Support Zone:

  • The support around $0.1230 is strong, with the price rebounding from this level multiple times.
  • If the price falls below this support, it could indicate a bearish scenario, leading to further declines.


Summary

  • Consolidation Phase: Price is moving sideways between $0.1230 (support) and $0.1465 (resistance).
  • Key Resistance: $0.1465 is the crucial resistance level to watch for a potential bullish breakout.
  • Bullish Scenario: Break above $0.1465 could lead towards $0.1707.
  • Support Zone: $0.1230 is the key support level; a break below could lead to further declines.


___________________________

✓✓✓ Always do your research.

❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.

❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and
Note
it is toward the final target
if you get it you can manage your risk and close half of your position here!
Trade closed: target reached
toward the target
Trade closed: target reached
I close 80% of my position there due to ascending trendline
#cfx #cfxusd #cfxusdt
snapshot
Beyond Technical AnalysisCFXCFXUSDCFXUSDTChart PatternsTrend Analysis
melikatrader94
👉my recommended broker:

bit.ly/HYCM-M
__________

👉my recommended exchange:

bit.ly/LbankMelika
__________

My telegram channel:
t.me/melikatrader94
Also on:

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.