GMTUSDT: Breakout or Pullback? Long Position Ready to Launch
Hey, traders! 🐂
Today,
GMTUSDT is in the spotlight. The price is holding at 0.16123 USDT, and the chart is forming an ascending triangle — one of the most popular bullish patterns. Resistance at 0.16425 USDT has been tested multiple times, but bears are still holding the line. Will it break through, or should we expect a pullback?
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🔑 Key Levels:
Support:
Resistance:
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🚩 Trading Strategy:
Entry Point:
- Consider going long after a confident breakout above 0.16425 USDT, confirmed by volume.
Stop-Loss:
- Place your stop below 0.16100 USDT to minimize risks.
Take-Profit Targets:
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📈 Technical Analysis:
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💡 What to Expect?
If the 0.16425 USDT level is broken, we have every chance of seeing a strong upward move. However, if bears maintain their resistance, a pullback to support at 0.16000 USDT is likely. What’s your take? Share your ideas — collective wisdom always wins! 🚀
Today,
GMTUSDT is in the spotlight. The price is holding at 0.16123 USDT, and the chart is forming an ascending triangle — one of the most popular bullish patterns. Resistance at 0.16425 USDT has been tested multiple times, but bears are still holding the line. Will it break through, or should we expect a pullback?---
🔑 Key Levels:
Support:
- 0.16330 USDT – the nearest point for a retest.
- 0.16000 USDT – the main line of defense for buyers.
Resistance:
- 0.16425 USDT – the current zone that needs to be breached.
- 0.16643 USDT – the first target after a breakout.
- 0.16986 USDT – the final target for the long position.
---
🚩 Trading Strategy:
Entry Point:
- Consider going long after a confident breakout above 0.16425 USDT, confirmed by volume.
Stop-Loss:
- Place your stop below 0.16100 USDT to minimize risks.
Take-Profit Targets:
- 0.16643 USDT – the first target where partial profits can be taken.
- 0.16986 USDT – the final target if the momentum continues.
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📈 Technical Analysis:
- The ascending triangle signals growing strength among buyers.
- Volume is increasing near the resistance zone, confirming bullish activity.
- A retest of 0.16425 USDT before the breakout presents an excellent entry opportunity.
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💡 What to Expect?
If the 0.16425 USDT level is broken, we have every chance of seeing a strong upward move. However, if bears maintain their resistance, a pullback to support at 0.16000 USDT is likely. What’s your take? Share your ideas — collective wisdom always wins! 🚀
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