Trade setup: Trends are mixed. Following a bearish breakout from a Descending Triangle pattern, below $0.57 support, price dipped as low as $0.46 horizontal support level, which is also near 200-day moving average (~$0.50). Swing Traders:That support zone could be robust and a potential swing trade entry, with +15-20% potential upside back to $0.57. Stop Loss (SL) level at $0.55.
Pattern: Price is trading in a Descending Triangle pattern. Typically, a breakout will occur in the direction of the existing trend.
Trend: Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $0.46, then $0.35. The nearest Resistance Zone is $0.57 (previous support), then $0.65 - $0.68, and $0.80.
Pattern: Price is trading in a Descending Triangle pattern. Typically, a breakout will occur in the direction of the existing trend.
Trend: Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $0.46, then $0.35. The nearest Resistance Zone is $0.57 (previous support), then $0.65 - $0.68, and $0.80.
Pernyataan Penyangkalan
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.