Current Price Action
Price is sitting at $1.85, right near your marked support (yellow line).
A period of consolidation is visible, suggesting the market is waiting for a clear move (breakout or breakdown).
Key Levels
Support Zone: $1.83 – This is critical. If broken with volume, price may fall lower.
Resistance 1: $2.065 – First upside level, could reject if momentum is weak.
Resistance 2 (Target): $2.27 – Next upside target if the breakout sustains.
Bullish Case (Upside Potential 🚀)
If buyers step in and price breaks above $2.00–$2.06, momentum could push it to $2.27.
Beyond $2.27, the chart structure allows an extended move toward $2.50–$2.70, but only with strong volume.
Bearish Case (Downside Risk ⚠️)
Failure to hold $1.83 support could drag price toward $1.70–$1.60.
This would invalidate the bullish breakout idea and trap late buyers.
Trade Setup (from your chart idea)
Entry: Around $1.85 (current zone).
Stop-Loss: Below $1.70 (safe zone under support).
Take Profit: $2.27.
Risk-to-Reward Ratio (R:R): ~2:1, which is acceptable for swing trades.
Price is sitting at $1.85, right near your marked support (yellow line).
A period of consolidation is visible, suggesting the market is waiting for a clear move (breakout or breakdown).
Key Levels
Support Zone: $1.83 – This is critical. If broken with volume, price may fall lower.
Resistance 1: $2.065 – First upside level, could reject if momentum is weak.
Resistance 2 (Target): $2.27 – Next upside target if the breakout sustains.
Bullish Case (Upside Potential 🚀)
If buyers step in and price breaks above $2.00–$2.06, momentum could push it to $2.27.
Beyond $2.27, the chart structure allows an extended move toward $2.50–$2.70, but only with strong volume.
Bearish Case (Downside Risk ⚠️)
Failure to hold $1.83 support could drag price toward $1.70–$1.60.
This would invalidate the bullish breakout idea and trap late buyers.
Trade Setup (from your chart idea)
Entry: Around $1.85 (current zone).
Stop-Loss: Below $1.70 (safe zone under support).
Take Profit: $2.27.
Risk-to-Reward Ratio (R:R): ~2:1, which is acceptable for swing trades.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.