Date: May 23, 2025
CGPT/USDT has officially broken out of a major downtrend line that has held since early 2025. The recent breakout is backed by increasing volume and bullish structure, showing clear signs of accumulation and trend reversal.
📊 Technical Overview:
Current Price: $0.1524
Breakout Zone: $0.145–$0.15 (now acting as support)
EMA Status: Price is trading above the 4EMA and 200EMA, indicating short and mid-term bullishness.
Volume: Strong surge on breakout — confirming interest and conviction from buyers.
📈 Entry Zones:
Retest Entry: $0.145–$0.15 (watch for a pullback into the blue zone).
Aggressive Entry: Immediate breakout continuation above current highs.
🧷 Validation:
As long as price remains above the breakout zone, the bullish setup remains intact.
A close below $0.14 would invalidate this momentum and suggest a potential fakeout.
🎯 Target Projections:
TP1: $0.1980 – First conservative target based on the width of the consolidation range.
TP2: $0.2240 – Next resistance zone from previous structural highs.
TP3: ~$0.29–$0.30 – Extended move potential if momentum continues and market conditions remain favorable.
📊 RSI Analysis:
RSI currently around 68 — bullish but not overbought.
RSI has made a series of higher lows, confirming the bullish price structure.
RSI breakout from its own downtrend earlier this month, reinforcing the momentum.
🧠 Final Thoughts:
CGPT/USDT is showing a clean breakout above months of resistance. With increasing volume and bullish RSI, the momentum looks strong. This could be the beginning of a larger trend reversal if key levels hold.
Good trading!!!
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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.