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Pennant

ADA | Back to bear market lows, or back to your portfolio?ADA has been out of the top 5 cryptos for a while and largely out of the spotlight. But is that about to change? Let’s dive into a few key factors that could offer insight into what’s coming next. -- Support & Resistance Currently, ADA is trading near the bottom of its range at around $0.34, a key level that has historically divided bull market price action from long-term bear market accumulation since 2022. In a bull market, this is the kind of price level investors can only dream of buying at. However, with Bitcoin consolidating at its previous cycle’s all-time high for the past seven months, altcoins have suffered, allowing prices to fall to these accumulation-friendly levels. The top of the range sits between $0.40 and $0.43, where we've seen two rejections and one false breakout. Despite this, I wouldn’t lean towards a bearish outlook, as we’ve had two false breakouts and three successful support holds, suggesting bulls have more control over this range. -- Trendlines As shown on the chart, ADA is forming a large pennant pattern, a key signal of potential consolidation before a significant move. Currently, the price is testing the lower trendline of this pennant, which aligns with the range’s support level. This convergence provides strong confluence, reinforcing the idea that we could see a bounce from here. The pattern's structure suggests that, as long as the lower boundary holds, ADA may be positioning for a breakout. Watching how price action reacts to this area will be crucial in determining the next move. -- In conclusion, ADA is showing signs of potential strength at key support levels, both in terms of price range and trendline confluence. With bulls maintaining control over the range and a possible breakout on the horizon, the upcoming price action could signal a shift back into the spotlight for ADA.
COINBASE:ADAUSDLong
by MilkLover69
Will the Price Bounce or Break?1H Timeframe Analysis Current Price: 0.67940 Bearish Outlook: 1. 1W Chart: Bearish Engulfing (Reversal) 2. 1D Chart: Shooting Star (Reversal) 3. 4H Chart: Rising Wedge (Reversal) 4. 1H Chart: Pennant (Continuation) The price is currently at the lower trendline of the Rising Wedge. With the Pennant pattern in play, we expect a drop to 0.67755. If strong support is found here, the price may bounce back to the major resistance at 0.68350. Due to this resistance, a reversal could push the price down to 0.67444, with potential bounces at support levels before aiming for ultimate support. Bullish Target: 0.68350 Bearish Targets: 0.67755 0.67444 0.67139 Good luck, traders!
Short
by SpicyPips
Bitcoin can make small correction and then continue to growHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time ago entered to upward channel, where it soon reached the resistance level, which coincided with the seller zone, but at once bounced and made a correction to the support line of the channel. Next, the price continued to move up and finally broke the 64900 level, and later reached the channel's resistance line again. But then BTC turned around and started to decline, so, soon, the price broke the resistance level one more time and exited from the upward channel. After this, the price continued to fall inside the downward pennant, where it first fell to the support level, which coincided with the buyer zone. When BTC fell to this level, it at once broke it, some time traded near the buyer zone, and then declined to support line of the pennant. Next, it turned around and rose higher than the 61200 level in a short time, breaking it again, and soon reaching the resistance line of the pennant. A not long time ago, BTC exited from pennant and now it continues to grow. For this case, I think that the price can make a small movement down and then continue to grow to the resistance level. That's why I set my TP at the 64900 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
Gold can correct to support area and then rebound up to 2700Hello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price declined from the buyer zone a little below, but then it entered to wedge and at once rebounded up from the support line to the resistance line, breaking the 2475 level. Then price some time traded in the wedge and later made a correction to the support level, which coincided with the support line of the wedge and made a strong impulse up. Price exited from the wedge and rose a little more, after which made correction below. Then Gold continued to move up inside the upward pennant, where it reached the current support level, which is located inside the support area. Next, the price broke this level and rose to the resistance line of the pennant, turned around, and corrected to the support area. But a not long time ago it bounced and rose to the resistance line of a pennant, which continues to trades below to this day. In my opinion, Gold can exit from the pennant, fall to the support area, and then start to grow. For this case, I set my TP at 2700 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDLong
by LegionQ8
1
EURO - Price can break resistance level and then exit of pennantHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to pennant, where it at once declined to support line and made upward impulse. Price broke $1.1080 level and then made a retest and then continued to move up, but later made correction. Next, EUR made upward impulse to $1.1180 level but then turned around and declined to support line of pennant. Later it made upward impulse to resistance line of pennant but soon fell below $1.1180 resistance level. But a not long time ago it rose to resistance line of pennant again and recently fell back and now it is trying to rise. In my mind, EUR can little decline and then bounce up to $1.1225, breaking resistance level and exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
8
Bearish Pennant on EUR/GBP @ D1This chart shows a bearish pennant on the daily chart of the EUR/GBP currency pair. It can be used as a trend continuation pattern in case of the price closing below the lower border of the pennant part. The pennant and its pole are shown with the yellow lines. My potential stop-loss level is marked with the red line (0.83861), it is placed at the high of the pennant area. My potential take-profit level is marked with the green line (0.82562), it is placed at the pole's length below the SL. I will wait for the price to close significantly below the lower border of the pennant area to execute a trade here.
Short
by AndriyMoraru
Consolidate before pumping.. VCP and SMC concept Using both the Volatility Contraction Pattern (VCP) and Smart Money Concepts (SMC), we can build a clearer perspective on whether to buy TAI in the current market. 1. VCP Concept Consideration: The VCP pattern shows that the price is tightening and volatility is contracting. The price has been showing lower highs and stabilizing around $0.10. In a typical VCP, you wait for: A tightening range with lower volatility, which we are observing in the current chart. A breakout above a key resistance level, which has not yet happened. The breakout level would likely be around $0.15–$0.17, as that's where the previous highs have been formed. Buying Spot Now Based on VCP: Pros: The price is near a strong support zone around $0.10, which could represent the final contraction phase before a breakout. If you are confident in the breakout potential and willing to take on some risk, buying near this support might give you a favorable entry point before the potential surge. Cons: A VCP strategy generally recommends waiting for the breakout with strong volume to confirm the upward move. Since there has been no clear breakout yet, entering now is risky if the price breaks down further. 2. SMC Concept Consideration: From an SMC perspective, the market structure remains bearish: The current bearish trend and order blocks around $0.15 suggest a short-term continuation downward if the price doesn’t break the bearish structure. Liquidity grabs: There’s a possibility of a liquidity sweep below $0.10 before any upward movement. If this happens, you might get a better price than now. Fair Value Gap (FVG): An imbalance exists between $0.14–$0.15, meaning the price may retrace to fill this gap before moving lower, offering a potential entry for a short-term trade. Buying Spot Now Based on SMC: Pros: SMC suggests that if the $0.10 demand zone holds, this could be a sign of accumulation by institutional players, meaning the price could start to rise from this level. Cons: If a liquidity sweep occurs below $0.10, you might be able to enter at a better price, but you risk buying now at the upper range of consolidation. SMC often suggests waiting for market structure shifts (such as higher highs and break of resistance) before buying, which hasn’t occurred yet. Summary: Should You Buy Now? If you are a conservative trader using these concepts, the answer would likely be to wait: VCP theory suggests waiting for a confirmed breakout above $0.15–$0.17 with strong volume before entering. This breakout will confirm that the price is exiting the accumulation phase and entering an expansion. SMC theory advises waiting for the market structure shift to bullish, which would be indicated by a break of resistance or a liquidity grab below $0.10, followed by a strong recovery. If you are a risk-tolerant trader and believe in the long-term potential of TAI, buying at the current $0.10–$0.11 support zone could be a strategic move, with the understanding that: You might see short-term downside if there is a liquidity grab or continuation of the bearish trend. Place a stop-loss below the $0.08 level to minimize risks in case the price breaks lower. Final Recommendation: Conservative Approach: Wait for a breakout above $0.15 with volume. Aggressive Approach: Buy at the current support around $0.10 but manage your risk with a tight stop-loss.
Long
by paulkongck83
2
Bitcoin can grow to 63K points exiting a pennant patternHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some days ago started to grow inside the upward channel, where it in a short time rose to a resistance level, which coincided with the seller zone. Soon, BTC broke this level and rose to the resistance line of the channel, thereby later exiting from it and then turning around and starting to decline inside the pennant. In this pattern, BTC at once fell to the 61000 level, broke it again, and later continued to decline next to the support level, which coincided with the buyer zone. Later, the price broke this level and fell to the support line of the pennant pattern, after which at once started to move up and soon broke the 56100 level one more time. Next, the price continued to grow and reached the resistance line of the pennant, but recently it rolled down a little below and now trades near this line. So, in my opinion, BTC can correct to support line of pennant and then start to grow to a resistance level, thereby leaving this pattern. When the price reaches the 61000 level, it can break it and then continue to move up. For this case, I set my TP at 63000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
6
GOLD - Price can leave pennant and fall to $2440Hi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to falling channel, where it rose to resistance line and then continued to decline. In a short time, price fell to support level, which coincided with support zone and made a fake breakout of this level. Gold exited from channel and later rose to 2478 points, after which made correction and started to grow in pennant. Price rose to $2525 resistance level and some time traded near this level, trying to break it, but failed. After this, XAU fell to support line of pennant and then started to grow, so, I think Gold can little grow. Then price can turn around and start to decline to $2440, thereby exiting from pennant. If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
1
Gold can fall to support level, break it and continue to declineHello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some days ago started to trades inside the big range, where it at once rose to the top part, after which started to decline. In a short time, Gold fell to the support level, which coincided with the buyer zone, broke it, and even made a fake breakout of the bottom part of the range, after which quickly backed up. Next, the price rose almost to the top part of the range but later turned around and dropped to the buyer zone. Then price started to grow near the support line of the pennant and later reached the current support level, which coincided with the support area. Next, XAU broke this level, exiting from range, and reached the resistance line of the pennant. Price some time traded between this line and the 2485 level, after which later corrected to support line of this pattern. A few moments ago price turned around and rose almost the resistance line, where continues to trades near to this day. So, for this case, I think Gold can make small movement down and then reach the resistance line of the pennant. After this, the price can start to decline to the support level, exiting from the pennant pattern. Also, I think XAU will break this level and continue to fall, therefore I set my TP at 2450 points. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
6
BITCOIN - Price can bounce up from pennant to $61600 pointsHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price entered to rising channel, where it rose until to resistance line, breaking $64400 level. Next, price turned around and made downward impulse to $49000 points, breaking two levels and exiting from rising channel. After this, price started to trades inside pennant, where it at once bounced up from support line. Price broke $55300 level and later rose to resistance line of pennant, which coincided with resistance level. But a not long time ago BTC bounced and fell to support line, where at the moment continues to trades near. Now, I think price can bounce from this line to $61600, exiting from pennant pattern. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
EURO - Price can bounce down from pennant to $1.0950Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price entered to pennant, where it at once bounced from support line to resistance line, breaking $1.0800 level. In this pattern, price made a gap, and later it bounced from resistance line and fell to support area, exiting from pennant. Next, EUR entered another pennant, where it at once started to grow to $1.1035 level, and exited from support area. When price reached this level, it broke it and rose to resistance line of pennant, but recently turned around and fell. Euro declined to resistance area, where continues to trades near support line of pennant, so, I think it can little grow. Then price can bounce down to $1.0950, exiting from pennant and breaking support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
1
EURUSD Analysis==>Cup and Handle Pattern==>>Pennant PatternEURUSD is moving near the Support zone($1.105-$1.103) and managed to break the Downtrend line . If we look at the EURUSD chart from the point of view of Classic Technical Analysis , we will notice two Cup and Handle Pattern and a Bullish Pennant Pattern . After breaking the neckline, I expect EURUSD to rise to at least the Resistance zone($1.111-$1.109) . Euro/U.S.Dollar Analyze ( EURUSD), 15-minute Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
3
ETH SHORT "BEARISH PENNANT"Hope my chart analysis helps traders make wise decisions when trading ETH. I see a "bearish pennant" of course on a smaller time. A quick tip: You can tell which timeframe a pattern is on according to its size; I think it's on a 30min-1hr timeframe. I forget. The date and time symbol has no significance expect for the fact it may drop down to its support level (green line). I'll improve my chart and idea analysis & better descriptions in the future. Happy trading everybody!!!!!
COINBASE:ETHUSDShort
by calvinharrison2023
2