Long

$MON - Rounded Bottom Formation

MONUSDT | 1D

The chart is finally starting to show signs of a strong recovery.

Rounding Bottom Formation
Price has developed a clear U-shaped accumulation phase, suggesting that selling pressure has been absorbed and accumulation is likely taking place.

Breakout Level:
Price has broken above its local resistance around 0.030, which is now acting as a key support zone for continuation.

We could still see a push toward 0.034–0.035 in the short term. If we get a slight rejection there but price manages to hold 0.029–0.027, that would confirm a clean breakout and successful retest.

Potential targets:
0.038–0.040
0.045–0.050

Invalidation:
The thesis is invalidated if price drops below 0.0245

Tealstreet

Advanced Crypto Trading Terminal
Lightning-fast execution — 100% free!

Trade like a Pro via Tealstreet ⚡️
tealstreet.io/
linktr.ee/tealstreet.io

Content in partnership with:
linktr.ee/mooncakexbt

Aussi sur:

Clause de non-responsabilité

Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

Tealstreet

Aussi sur: