#MDT(SPOT) entry ( 0.03670- 0.04260) T.(0.08959) SL(0.03547)BINANCE:MDTUSDT
entry range ( 0.03670- 0.04260)
Target (0.08959)
SL .1D close below (0.03547)
*** collect the coin slowly in the entry range ***
*** No FOMO - No Rush , it is a long journey ***
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Mdtanalysis
MDTUSDT.1DMDT/USDT Daily Analysis
As we examine the MDT/USDT daily chart, it is evident that the price is currently trading within a range-bound consolidation phase. The price has recently tested and respected the support level (S1) at $0.03530, which has acted as a strong demand zone, providing stability and preventing further declines.
The resistance level (R1) at approximately $0.04310 has been a significant barrier for the bulls, as evidenced by multiple rejections in the past. This level is crucial for any bullish continuation. If the price manages to break above this resistance, the next target would be the secondary resistance (R2) around $0.05161.
The chart shows a potential bullish breakout, as the price is currently attempting to surpass the descending trendline that has been governing the downtrend since early May. A successful breakout above this trendline would likely confirm a reversal, leading to further upward momentum toward R2.
The MACD indicator, though currently showing a slight bullish crossover, remains relatively neutral, indicating a lack of strong momentum in either direction. However, the histogram's positive value suggests that buying pressure might be gradually increasing.
The RSI is currently at 43.15, indicating that the asset is neither overbought nor oversold, providing room for potential upside. The RSI's recent upward movement is a positive sign, hinting at a possible shift in market sentiment toward the bulls.
In conclusion, MDT/USDT is at a critical juncture. The price action suggests a potential bullish breakout, but confirmation is required with a sustained move above the R1 resistance level and the descending trendline. Should this occur, we could expect further gains toward the R2 resistance. However, failure to break above R1 could result in continued consolidation or a retest of the support at S1. Traders should remain cautious and look for strong confirmation before taking any positions.
MDTUSDT long Spot TradeMDTUSDT Elliott Wave Technical Analysis
Mode: Corrective
Structure: Zizag
Position: Wave (c) of (x)
Direction: Wave (c) of (x) is still in play
Details: Wave (x) is still in play which I expected to be end around 0.080-0.068 forming a running flat, which will be my entry point.
Next Direction: Wave (y)
Targets: the area between 0.16-0.17 with 100-125% profit.
if it break the last high at 0.17888 then take a look on the Alt version bellow.
Wave Cancel invalid level: Daily closing below 0.045 with 40% loss, big loss so think a lot before you enter this trade.
ALT:
Disclaimer:
This analysis is intended for educational and informational purposes only and should not be construed as financial advice. Always conduct your own due diligence and consult with a professional financial advisor before making investment decisions.