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CFX → a possible move

melikatrader94의

업데이트됨

hello guys.

let's analysis BINANCE:CFXUSDT!

1. Consolidation Phase:

The price has been moving sideways, trapped between two key levels: a support zone around $0.1230 and a resistance zone around $0.1465.
This consolidation is marked by the yellow rectangles, indicating areas where the price has found significant support and resistance.

2. Resistance Zone:

The resistance level at $0.1465 is critical. During the recent consolidation phase, the price has struggled to break above this level.
If the price can break through this resistance, it would signal a potential shift from the consolidation phase to an upward trend.

3. Bullish Scenario:

Upon breaking the resistance at $0.1465, the price will likely target the next resistance level at $0.1707.
This move would represent a continuation of the bullish trend from the current support level and could signify renewed buying interest.

4. Support Zone:

The support around $0.1230 is strong, with the price rebounding from this level multiple times.
If the price falls below this support, it could indicate a bearish scenario, leading to further declines.

Summary

Consolidation Phase: Price is moving sideways between $0.1230 (support) and $0.1465 (resistance).
Key Resistance: $0.1465 is the crucial resistance level to watch for a potential bullish breakout.
Bullish Scenario: Break above $0.1465 could lead towards $0.1707.
Support Zone: $0.1230 is the key support level; a break below could lead to further declines.

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노트

it is toward the final target
if you get it you can manage your risk and close half of your position here!

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toward the target

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I close 80% of my position there due to ascending trendline
#cfx #cfxusd #cfxusdt