MORPHO/USDT Ascending Trendline Support and Long Retest Setup This 4-hour chart for MORPHO/USDT highlights a potential long setup at a critical zone. The price action shows a consistent upward trajectory, supported by an ascending trendline. The recent pullback respects a key horizontal support zone around $3.25-$3.05, aligned with previous resistance turned support.
The setup suggests entering a long position at the current retest level. The risk is managed with a stop loss below the trendline and the support zone at $2.95, ensuring protection against invalidation. The target is bigger, offering an attractive risk-reward ratio.
While the structure remains bullish, caution is advised due to market volatility and potential downside pressure if the support zone breaks. Monitoring price action near the trendline is essential.
Also always make sure to book profit on every 10% of the movement and move SL to Entry for a safe ride and keep reaping more profits without any lose
