GateToken/Tether

Bullish Breakout Above Key Resistance Signals Upside Potential

4
Analysis: GT has recently broken above the $20.50 resistance level with strong volume, suggesting bullish momentum. The 50-day EMA ($20.30) is acting as dynamic support, and the RSI (14) at 58 shows room for upward movement before reaching overbought levels (>70). A golden cross (50-day EMA crossing above 200-day EMA at $19.80) formed last week, reinforcing the bullish case. Price action is forming a bullish flag pattern, indicating a potential continuation to $24.00.
Trade Plan:
Entry: $21.90 (post-consolidation breakout confirmation above $21.85).

Stop Loss: $20.20 (below 50-day EMA).

Target: $24.00 (next resistance, ~9.8% upside).

Risk-Reward Ratio: 1:2.

Timeframe: 1-2 weeks.

Indicators: 50/200-day EMA, RSI, Volume.

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