N wave with E, N, V & NT projection.
The price is currently at 0.280, slightly below recent highs around 0.290–0.295.
Recent candles show some selling pressure, indicated by a volume increase and a drop from the highs.
Price is currently trading near the edge and above the Kumo suggesting a bullish momentum.
Immediate support: NT level at 0.275.
If price holds above NT level 0.275:
Look for consolidation or potential bounce. This level acts as a pivot; a bounce here could test recent highs again near 0.295 and potentially higher.
If price drops below the NT level, the next key support is around 0.260 marked by a previous consolidation zone and a potential bounce area.
A break below NT might signal a deeper correction or trend test.
Price action at NT (0.275):
Look for reversal patterns like bullish engulfing, hammer, or increased buying volume before entry.
Volume:
Confirm strength of rallies with higher volumes on up days.
Breakouts:
If price breaks and closes convincingly above recent highs (0.295), it could signal continuation towards the next targets.
Caution:
A breakdown below 0.260 suggests potential for deeper correction. Adjust stop loss and risk accordingly.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
The price is currently at 0.280, slightly below recent highs around 0.290–0.295.
Recent candles show some selling pressure, indicated by a volume increase and a drop from the highs.
Price is currently trading near the edge and above the Kumo suggesting a bullish momentum.
Immediate support: NT level at 0.275.
If price holds above NT level 0.275:
Look for consolidation or potential bounce. This level acts as a pivot; a bounce here could test recent highs again near 0.295 and potentially higher.
If price drops below the NT level, the next key support is around 0.260 marked by a previous consolidation zone and a potential bounce area.
A break below NT might signal a deeper correction or trend test.
Price action at NT (0.275):
Look for reversal patterns like bullish engulfing, hammer, or increased buying volume before entry.
Volume:
Confirm strength of rallies with higher volumes on up days.
Breakouts:
If price breaks and closes convincingly above recent highs (0.295), it could signal continuation towards the next targets.
Caution:
A breakdown below 0.260 suggests potential for deeper correction. Adjust stop loss and risk accordingly.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
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.