DeepBook/TetherLong
DEEPBOOK Set for Explosive Move to 0.11!?
The current DEEP/USDT 4-hour chart shows the price consolidating after a strong upward move, and now it's nearing a crucial decision point. Using Fibonacci retracement, we can identify key support and resistance levels that could dictate the next big move.
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Key Support Zones:
The price is currently sitting near the 0.618 Fibonacci retracement level, historically a strong area of support for a potential bullish bounce.
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Further support is found at the 0.5 level, indicating that there’s a high chance the price could reverse upwards from here.
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Strong support from SUI/USDT, as indicated in the chart, adds extra confidence to the bullish potential.
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Resistance Levels:
The first major hurdle lies around the 0.786 Fibonacci level and the psychological resistance at 0.100.
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If the bullish momentum continues, the long-term target could be the 1.618 Fibonacci extension at 0.113, signaling significant upside potential.
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Price Action Scenarios:
In the bullish scenario, the price could bounce from the current support levels, pushing towards the 1.618 extension for an explosive move upward.
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In the bearish scenario, if the support fails, the price could dip further towards the 0.382 or 0.236 Fibonacci levels before finding solid footing again.
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In summary, DEEP/USDT is at a pivotal moment. A breakout from here could lead to massive gains, while a failure to hold support could trigger a deeper correction. Don’t miss this potential opportunity as the market braces for its next big move!
🚀
Key Support Zones:
The price is currently sitting near the 0.618 Fibonacci retracement level, historically a strong area of support for a potential bullish bounce.
🚀
Further support is found at the 0.5 level, indicating that there’s a high chance the price could reverse upwards from here.
🚀
Strong support from SUI/USDT, as indicated in the chart, adds extra confidence to the bullish potential.
🚀
Resistance Levels:
The first major hurdle lies around the 0.786 Fibonacci level and the psychological resistance at 0.100.
🚀
If the bullish momentum continues, the long-term target could be the 1.618 Fibonacci extension at 0.113, signaling significant upside potential.
🚀
Price Action Scenarios:
In the bullish scenario, the price could bounce from the current support levels, pushing towards the 1.618 extension for an explosive move upward.
🚀
In the bearish scenario, if the support fails, the price could dip further towards the 0.382 or 0.236 Fibonacci levels before finding solid footing again.
🚀
In summary, DEEP/USDT is at a pivotal moment. A breakout from here could lead to massive gains, while a failure to hold support could trigger a deeper correction. Don’t miss this potential opportunity as the market braces for its next big move!
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.
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.