PESONA - Potential of price movement analysisN wave with N, V & NT projection.
The price has tested the 52-week high at 0.260 three times and was rejected, indicating strong resistance at this level. The NT projection is acting as the immediate resistance, which the price is currently testing. Breaking above this could signal a continuation of the bullish trend.
The price is above the cloud, indicating a bullish trend. The thin cloud ahead suggests minimal resistance, supporting the possibility of a bullish breakout. The Tenkan-sen and Kijun-sen are aligned bullishly, providing additional support for the current uptrend.
A potential entry could be placed once the price breaks above the NT resistance level at 0.255, preferably with strong volume confirmation.
For this setup to succeed, the price needs to break and close above the 0.260 resistance level with strong momentum and volume. Keep an eye on price action around this level, as any rejection could lead to consolidation or a reversal.
In summary, the market needs to break through the immediate NT resistance at 0.255 and sustain momentum to challenge the 52-week high and push towards the V (0.295) and N (0.300) targets.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
