Hello Traders, 👋
Let's take a deep dive into the POPCAT/USDT chart and discuss its current price action and potential targets.
Ascending Trendline Support:
The price is currently respecting an ascending trendline, indicating a bullish structure in the longer time frame.
Strong Horizontal Support:
At 1.0021, we can see a critical horizontal support zone that has acted as a pivot in the past. If this level holds, we might see a bullish continuation.
Consolidation Zone (Purple Box):
The price is moving within a consolidation zone, indicating an accumulation phase. A breakout above this zone could act as a catalyst for the next bullish wave.
Potential Target:
Based on the Fibonacci extensions and historical resistance levels, the first target sits around 1.9779, and the second target is at 2.8050.
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Title: POPCAT/USDT - Potential Bullish Breakout 🚀
Hello Traders, 👋
Let's take a deep dive into the POPCAT/USDT chart and discuss its current price action and potential targets.
Key Observations:
Ascending Trendline Support:
The price is currently respecting an ascending trendline, indicating a bullish structure in the longer time frame.
Strong Horizontal Support:
At 1.0021, we can see a critical horizontal support zone that has acted as a pivot in the past. If this level holds, we might see a bullish continuation.
Consolidation Zone (Purple Box):
The price is moving within a consolidation zone, indicating an accumulation phase. A breakout above this zone could act as a catalyst for the next bullish wave.
Potential Target:
Based on the Fibonacci extensions and historical resistance levels, the first target sits around 1.9779, and the second target is at 2.8050.
Strategy:
Bullish Scenario:
If the price breaks above the consolidation zone with strong volume, we could see a rally toward the first target.
Bearish Scenario:
A breakdown below the ascending trendline and the key support at 1.0021 could invalidate this setup and push the price lower.
Risk Management:
Always use a stop-loss to protect your capital. For this setup, placing a stop-loss slightly below the 0.8500 level would be a cautious approach.
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"🤖 Smart Trading Bots | 🚀 Advanced Market Analysis & Strategies | Helping You Trade Smarter, Not Harder!"
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은
이용 약관을 참고하세요.