NOTUSDT Potential Retracement and Rally to $0.03414
I'm observing the price action of NOTUSDT and it appears there may be a short-term retracement before continuing its upward trajectory. Based on the Fibonacci retracement tool, I'm anticipating a pullback to around $0.021123 or $0.019855, which will present an excellent buying opportunity for the next leg up targeting $0.03414.
Chart Analysis:
Current Price Action:
The price of NOTUSDT is currently trading around $0.02402 after reaching a recent high.
The recent price movement suggests a potential retracement is on the horizon.
Fibonacci Retracement Levels:
The retracement levels from the recent high indicate potential support zones where the price might find a reversal.
Key retracement levels to watch include:
0.5 Fib level at $0.024710
0.618 Fib level at $0.025849
The deeper retracement levels of 0.786 at $0.027456 and 1.0 at $0.029503
Expected Pullback Zones:
The price is likely to find support at the 0.5 Fib level ($0.024710) or the 0.618 Fib level ($0.025849).
For a more pronounced correction, I'm watching the 0.786 Fib level at $0.027456 and the 1.0 Fib level at $0.029503.
These zones are marked by the blue arrows on the chart as potential entry points for long positions.
Ideal Entry Points:
The best entry points for long positions are around $0.021123 (0.618 retracement level) and $0.019855 (0.786 retracement level).
These levels offer a favorable risk-reward ratio and align with historical support zones.
Bullish Reversal and Target:
After the anticipated retracement, I'm expecting a bullish reversal that will propel NOTUSDT towards the 1.618 Fibonacci extension level at $0.03414.
This target aligns with the overall bullish trend and previous price action patterns.
Price Target:
My next major price target is the 1.618 Fibonacci extension level at $0.03414.
This level represents a significant resistance point where I expect the price to encounter selling pressure.
Conclusion:
NOTUSDT is showing signs of a potential retracement, presenting an excellent buying opportunity around $0.021123 or $0.019855. These levels are ideal for long entries, setting the stage for the next leg up towards the 1.618 Fibonacci extension target of $0.03414. Keep an eye on the support zones and be ready to enter long positions as the price approaches these key levels.
Happy Trading! 📈🚀
Chart Analysis:
Current Price Action:
The price of NOTUSDT is currently trading around $0.02402 after reaching a recent high.
The recent price movement suggests a potential retracement is on the horizon.
Fibonacci Retracement Levels:
The retracement levels from the recent high indicate potential support zones where the price might find a reversal.
Key retracement levels to watch include:
0.5 Fib level at $0.024710
0.618 Fib level at $0.025849
The deeper retracement levels of 0.786 at $0.027456 and 1.0 at $0.029503
Expected Pullback Zones:
The price is likely to find support at the 0.5 Fib level ($0.024710) or the 0.618 Fib level ($0.025849).
For a more pronounced correction, I'm watching the 0.786 Fib level at $0.027456 and the 1.0 Fib level at $0.029503.
These zones are marked by the blue arrows on the chart as potential entry points for long positions.
Ideal Entry Points:
The best entry points for long positions are around $0.021123 (0.618 retracement level) and $0.019855 (0.786 retracement level).
These levels offer a favorable risk-reward ratio and align with historical support zones.
Bullish Reversal and Target:
After the anticipated retracement, I'm expecting a bullish reversal that will propel NOTUSDT towards the 1.618 Fibonacci extension level at $0.03414.
This target aligns with the overall bullish trend and previous price action patterns.
Price Target:
My next major price target is the 1.618 Fibonacci extension level at $0.03414.
This level represents a significant resistance point where I expect the price to encounter selling pressure.
Conclusion:
NOTUSDT is showing signs of a potential retracement, presenting an excellent buying opportunity around $0.021123 or $0.019855. These levels are ideal for long entries, setting the stage for the next leg up towards the 1.618 Fibonacci extension target of $0.03414. Keep an eye on the support zones and be ready to enter long positions as the price approaches these key levels.
Happy Trading! 📈🚀
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.