WLD/USDT Bullish : Perfect Retest and Rounded Bottom Formation
WLD/USDT has formed a rounded bottom pattern on the weekly timeframe, with strong technical levels aligning for a potential breakout. After a perfect retest of the $2.55 weekly level, the price is now trading near short-term support at $2.97-$3.00, setting the stage for a bullish move.
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🔍 Key Technical Analysis:
- Support Levels:
- Short-term support: $2.97-$3.00 (Weekly Level).
- Major support: $2.55, which acted as a base for the recent retest.
- Resistance Levels:
- Immediate resistance: $4.16 (Weekly Level). A breakout above this level will confirm the next leg up.
- Major target resistance: $6.64, aligning with the measured move from the rounded bottom.
- Chart Formation:
- The rounded bottom pattern indicates accumulation, with buyers gradually gaining control.
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📊 Trade Setup:
- Buy Zone: Accumulate positions near $2.97-$3.00 (at cmp), with an eye on bullish confirmation around $4.16.
- Target Levels:
- First Target: $4.17
- Second Target: $6.64
- Stop Loss: Place a stop loss at $2.44 (Weekly Level) to limit downside risk.
- Risk to Reward : 5.85 on weekly
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🚀 What to Watch For:
1. Breakout Confirmation: A weekly close above $4.16 will confirm bullish momentum and target $6.64.
2. Volume Surge: A breakout accompanied by increased volume adds confidence to the move.
3. Momentum Indicators:
- RSI crossing above 60 strengthens the bullish case.
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⚡ Summary:
WLD/USDT is showing a strong technical setup, with a rounded bottom formation on the weekly chart, key levels aligning, and a bullish breakout potentially on the horizon. Stay alert for price action near $4.16 for confirmation.
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⚠️ Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency trading is highly volatile, and you should trade responsibly with proper risk management.
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Disclaimer
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