1. Overview of Price Trend
The price appears to be recovering and moving upward after a prolonged bearish period.
The recent movement has seen a sudden spike, which could indicate an influx of liquidity.
2. Ichimoku Indicator
The price has crossed above the Kumo cloud, which is considered a positive signal.
The Tenkan-sen and Kijun-sen have formed an upward crossover, potentially signaling the continuation of the bullish trend.
The Chikou Span (green line) has moved upward, indicating strength in the uptrend.
3. Support and Resistance Levels
A key support level at $0.176 is visible on the chart, suggesting a strong floor.
The price is currently around $0.252, which may act as short-term resistance.
If it stabilizes above this range, a move toward $0.30 could be expected.
🔹 The indicator has currently reached the overbought zone. This suggests that buying strength has been very high, and a price correction or market breather might occur in the short term.
🔹 On the other hand, if the indicator remains in the overbought zone and experiences only a shallow correction, it could signal the strength of a continued bullish trend.
🔹 Historically, when this indicator has hit the overbought region, we’ve typically seen a short-term correction followed by a continuation of the trend.
Suggested Trading Strategy Based on HARSI AND ICHIMOKU
✅ If You’re in a Long Position:
You could set a short-term profit target and lock in partial profits if buying strength weakens.
Setting a stop-loss near $0.23 seems reasonable.
✅ If You’re Looking to Enter:
It’s better to wait for a price correction and for HARSI to return to the neutral range (20-80) to reduce entry risk.
Checking Heikin Ashi candles is also important; if the bullish candles are larger and lack lower wicks, the trend remains strong.
⚠️ Warning: If HARSI drops sharply and falls below the 20 level, it would indicate significant weakness and a potential trend reversal.
🔹 Conclusion: The current trend is bullish, but a short-term correction is likely. The best approach would be to wait for a correction and seize a lower-risk entry opportunity.
TP1 : 0.3
TP2 : 0.323
TP3 : 0.354
TP4 : 0.373
TP5 : 0.4
SL : Around 0.23
The price appears to be recovering and moving upward after a prolonged bearish period.
The recent movement has seen a sudden spike, which could indicate an influx of liquidity.
2. Ichimoku Indicator
The price has crossed above the Kumo cloud, which is considered a positive signal.
The Tenkan-sen and Kijun-sen have formed an upward crossover, potentially signaling the continuation of the bullish trend.
The Chikou Span (green line) has moved upward, indicating strength in the uptrend.
3. Support and Resistance Levels
A key support level at $0.176 is visible on the chart, suggesting a strong floor.
The price is currently around $0.252, which may act as short-term resistance.
If it stabilizes above this range, a move toward $0.30 could be expected.
🔹 The indicator has currently reached the overbought zone. This suggests that buying strength has been very high, and a price correction or market breather might occur in the short term.
🔹 On the other hand, if the indicator remains in the overbought zone and experiences only a shallow correction, it could signal the strength of a continued bullish trend.
🔹 Historically, when this indicator has hit the overbought region, we’ve typically seen a short-term correction followed by a continuation of the trend.
Suggested Trading Strategy Based on HARSI AND ICHIMOKU
✅ If You’re in a Long Position:
You could set a short-term profit target and lock in partial profits if buying strength weakens.
Setting a stop-loss near $0.23 seems reasonable.
✅ If You’re Looking to Enter:
It’s better to wait for a price correction and for HARSI to return to the neutral range (20-80) to reduce entry risk.
Checking Heikin Ashi candles is also important; if the bullish candles are larger and lack lower wicks, the trend remains strong.
⚠️ Warning: If HARSI drops sharply and falls below the 20 level, it would indicate significant weakness and a potential trend reversal.
🔹 Conclusion: The current trend is bullish, but a short-term correction is likely. The best approach would be to wait for a correction and seize a lower-risk entry opportunity.
TP1 : 0.3
TP2 : 0.323
TP3 : 0.354
TP4 : 0.373
TP5 : 0.4
SL : Around 0.23
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.