0.94 Showdown: Bulls vs. Bears – Who Wins?
The current structure in SANDUSD remains bearish, marked by consecutive BOS (Break of Structure) to the downside. However, the price is currently testing the crucial 0.94 level, which could signal a shift in momentum if broken and held.
- A confirmed break above 0.94 and a sustained move above the EMA Ribbon could signify a potential change to a bullish structure. In this case, the next target lies at 3.1.
- Conversely, if the price fails to break above this strong resistance zone, it may revisit the accumulation zone at 0.24, which has previously acted as a significant support level.
The Signal Builder recently provided a bullish signal, but the price is now facing a critical supply zone, adding to the uncertainty.
Key Insights:
- Bullish confirmation requires a breakout and hold above 0.94.
- A pullback to 0.24 could offer another opportunity for accumulation.
- Watch for how the price interacts with the EMA Ribbon as it aligns with the resistance zone.
👨🏻💻💭 Will SANDUSD manage to break resistance and target 3.1, or is a retracement to 0.24 more likely? Let’s discuss below!
_________________________________________________________________
The information and publications within the 3Commas TradingView account are not meant to be and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by 3Commas and any of the parties acting on behalf of 3Commas, including its employees, contractors, ambassadors, etc.
🤖 It's time to trade smarter with 3Commas!!
📣 Sign up to get up to 10% off
👉 bit.ly/3XCInKB
📣 Sign up to get up to 10% off
👉 bit.ly/3XCInKB
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.