Falling Wedge Breakout Could Spark 100% RallyASX:FHE ’s price action on the 4-hour chart reveals a falling wedge pattern, a bullish setup often preceding sharp reversals in low-cap altcoins. The token is trading at $0.00000079, with the wedge’s upper trendline near $0.00000085 and support at $0.00000070. Falling wedges typically form during consolidation after a downtrend, and ASX:FHE ’s declining volume within the pattern supports this thesis. The Bollinger Bands are contracting, indicating low volatility and a potential breakout.
A breakout above $0.00000085, confirmed by a 4-hour close and a volume spike, could propel ASX:FHE to $0.0000016, a 100% gain, aligning with the pattern’s measured target (wedge height projected upward). The MACD is showing early signs of bullish convergence, with the signal line flattening below zero. However, low liquidity (24-hour volume ~$0) increases the risk of whipsaws, and a false breakout could see prices drop to $0.00000060. Sentiment for low-cap tokens is cautious, but a broader altcoin rally could catalyze ASX:FHE ’s move.
Actionable Insight:
Enter long on a confirmed breakout above $0.00000085 with volume. Target $0.0000016, with a stop-loss below $0.00000070. Monitor Bitcoin’s trend, as altcoins often follow BTC’s lead. Check MEXC’s order book for liquidity before trading.
Chart Setup:
Timeframe: 4-hour
Indicators: Bollinger Bands, MACD, Volume
Levels: Support ($0.00000070), Resistance ($0.00000085, $0.0000016)
