Get started

CHEEMS / USD PERPETUAL SWAP CONTRACT

No trades
See on Supercharts
Overview
Ideas
Discussions Technicals Seasonals Markets

CHEEMSUSDT.P trade ideas

CHEEMS/USDT Analysis – Potential Breakout Ahead?On the daily timeframe, CHEEMS/USDT is showing a clear ascending triangle pattern, indicating bullish pressure as the price forms higher lows while facing resistance around the upper trendline. This pattern is commonly seen as a continuation pattern in uptrends. Key Levels: Resistance: Around 0.00000102 USDT Support: Around 0.00000095 USDT Indicators in Play: Volume: A slight increase in volume near the trendline suggests buyers are gaining control. A breakout with high volume above the resistance level will confirm the bullish momentum. EMA/SMA: If moving averages (e.g., EMA 50 or SMA 200) are included, they may serve as dynamic support or indicate overall trend direction. RSI: Check if RSI is nearing the overbought region (above 70), as this could indicate a potential correction before a breakout. Potential Trade Setup: Entry: Wait for a confirmed breakout above 0.00000102 with significant volume. Target 1: 0.00000120 (short-term target based on the height of the triangle). Stop Loss: Place below the last swing low around 0.00000093 to manage risk. Bearish Scenario: If the price breaks below the support line at 0.00000095, we could see further downside, possibly toward 0.00000085.
Long
by Tradeaione