Key Observations:
1. Triangle Formation – The price range is narrowing, suggesting liquidity accumulation before a potential breakout.
2. Support and Resistance Levels – The lower trendline acts as support, while the upper trendline serves as resistance.
3. Stochastic Oscillator (at the bottom) – It's in the oversold zone (~10), which may indicate a possible price bounce.
4. Volume (at the bottom) – If volume increases before the breakout, the move will be more reliable.
Possible Scenarios:
Breakout Upwards: If the price breaks above ~0.2496 with strong volume, it could signal a bullish move.
Breakdown Downwards: If the price breaks below the support trendline, further downside may follow.
1. Triangle Formation – The price range is narrowing, suggesting liquidity accumulation before a potential breakout.
2. Support and Resistance Levels – The lower trendline acts as support, while the upper trendline serves as resistance.
3. Stochastic Oscillator (at the bottom) – It's in the oversold zone (~10), which may indicate a possible price bounce.
4. Volume (at the bottom) – If volume increases before the breakout, the move will be more reliable.
Possible Scenarios:
Breakout Upwards: If the price breaks above ~0.2496 with strong volume, it could signal a bullish move.
Breakdown Downwards: If the price breaks below the support trendline, further downside may follow.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.