At the moment SLF asset demonstrates quite promising dynamics, which is confirmed by a number of technical signals. Price trading in the green range (the area of positive dynamics) indicates stable demand and confidence of market participants in the growth potential of the asset.
One of the key factors is the price consolidation above the exponential moving average (EMA 50). This indicates a change of the short-term trend to an upward one and can be considered as a signal for further strengthening of positions. In addition, the support from the EMA 50 acts as a dynamic level, which reduces the probability of a significant pullback.
In terms of analyzing Fibonacci levels, the current market structure also provides interesting opportunities. If we consider the correction from the previous move, the nearest upside target is at 0.55 USD, which corresponds to 1.618 on the Fibonacci scale. This level historically acts as a point of attraction for price movements and may become a logical target for the current trend.
Alex Kostenich,
Horban Brothers.
One of the key factors is the price consolidation above the exponential moving average (EMA 50). This indicates a change of the short-term trend to an upward one and can be considered as a signal for further strengthening of positions. In addition, the support from the EMA 50 acts as a dynamic level, which reduces the probability of a significant pullback.
In terms of analyzing Fibonacci levels, the current market structure also provides interesting opportunities. If we consider the correction from the previous move, the nearest upside target is at 0.55 USD, which corresponds to 1.618 on the Fibonacci scale. This level historically acts as a point of attraction for price movements and may become a logical target for the current trend.
Alex Kostenich,
Horban Brothers.
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Horban Brothers - Innovative finance. Join our journey:
Telegram Channel: t.me/horbanbrothers
X: x.com/HorbanBrothers
Telegram Channel: t.me/horbanbrothers
X: x.com/HorbanBrothers
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.