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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.


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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 broker:: bit.ly/HYMCMELI
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