🔍 Chart Structure
Descending Wedge Breakout:
Price has broken out of a long-term descending wedge pattern.
This breakout is typically bullish, especially when accompanied by increased volume or momentum indicators turning up.
Support/Resistance Levels:
Current Price: ~0.0201 USDT
Key Resistance Zones:
0.02200 – Minor resistance
0.02310 – More substantial historical resistance
0.02473 – Intermediate target
0.02847 – Major target from chart box
Support Zones:
0.01815 – Key local support
0.01600 – Lower risk invalidation/support
Trade Box:
Green box = Potential long trade setup.
Looks like a Risk/Reward ratio of about 2.5–3:1 based on entry and stop vs. target.
Entry: ~0.0200
Stop: ~0.0182
Target: ~0.0284
📊 Indicators
RSI (Relative Strength Index):
Current RSI: ~41.75
Still in a neutral zone, suggesting there’s room for upside before becoming overbought.
Mild bullish divergence could be forming if previous lows were lower than the RSI lows.
⚠️ Considerations
Volume Confirmation: Look for increasing buy volume after breakout to confirm strength.
Retest of Wedge Line: If price pulls back, a retest of the breakout line could be a good secondary entry.
Macro Resistance: 0.0284–0.0300 has historically been a supply zone; expect selling pressure there.
✅ Potential Strategy
Long Entry: 0.0200 (Confirmed breakout)
Stop Loss: Below 0.0182
Target(s):
TP1: 0.0220
TP2: 0.0247
TP3: 0.0284
Descending Wedge Breakout:
Price has broken out of a long-term descending wedge pattern.
This breakout is typically bullish, especially when accompanied by increased volume or momentum indicators turning up.
Support/Resistance Levels:
Current Price: ~0.0201 USDT
Key Resistance Zones:
0.02200 – Minor resistance
0.02310 – More substantial historical resistance
0.02473 – Intermediate target
0.02847 – Major target from chart box
Support Zones:
0.01815 – Key local support
0.01600 – Lower risk invalidation/support
Trade Box:
Green box = Potential long trade setup.
Looks like a Risk/Reward ratio of about 2.5–3:1 based on entry and stop vs. target.
Entry: ~0.0200
Stop: ~0.0182
Target: ~0.0284
📊 Indicators
RSI (Relative Strength Index):
Current RSI: ~41.75
Still in a neutral zone, suggesting there’s room for upside before becoming overbought.
Mild bullish divergence could be forming if previous lows were lower than the RSI lows.
⚠️ Considerations
Volume Confirmation: Look for increasing buy volume after breakout to confirm strength.
Retest of Wedge Line: If price pulls back, a retest of the breakout line could be a good secondary entry.
Macro Resistance: 0.0284–0.0300 has historically been a supply zone; expect selling pressure there.
✅ Potential Strategy
Long Entry: 0.0200 (Confirmed breakout)
Stop Loss: Below 0.0182
Target(s):
TP1: 0.0220
TP2: 0.0247
TP3: 0.0284
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.