LONG signal MEWUSDT Max Profit
Updated
15m TF. BINANCE:MEWUSDT is forming an ascending triangle on a small timeframe, signaling the potential for an upward breakout. The current price is 0.009481 USDT, and the price is approaching the resistance level at 0.009505 USDT.
Volumes are starting to increase near the resistance, confirming buyer activity. Indicators show growing bullish momentum, with support at 0.009200 USDT protecting the current structure.
🔑 Technical Context
- The ascending triangle formation suggests a breakout above 0.009505 USDT.
- Rising volumes near the resistance confirm buyer interest.
- The nearest support level at 0.009200 USDT mitigates the risk of corrections.
🚩 Trading Strategy
Entry Point:
Consider opening a long position on a confirmed breakout above 0.009505 USDT.
Stop-Loss:
Place a stop-loss below 0.009200 USDT to limit potential losses.
Take-Profit Targets:
- 0.009700 USDT – the first target for partial profit-taking.
- 0.009850 USDT – the main target within the ascending trend.
- 0.010000 USDT – the maximum target based on the breakout projection.
📈 Recommendations
- Volume Analysis: Monitor for continued volume growth during the breakout.
- Entry Timing: Wait for a confident close above 0.009505 USDT.
- Trend Confirmation: Use 5m and 15m timeframes to confirm the continuation of the bullish move.
Conclusion
BINANCE:MEWUSDT shows strong potential for an upward breakout. Careful monitoring of volumes and resistance levels provides an opportunity to capitalize on the current market setup.
Trade active
To the moon 🚀
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