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Let' analyse SUSDT:
SUSDT has been consolidating within a symmetrical triangle pattern of an ascending channel for the past few weeks, indicating a period of indecision. However, price action is now hinting at a potential bullish breakout!
Key Observations:
Triangle Consolidation: The symmetrical triangle (blue lines) shows converging trendlines, suggesting that a significant move is imminent.
EMA Ribbon: The price is currently trading above the EMA ribbon (21, 50, 99, 200 EMAs), which is starting to fan out in a bullish manner. This suggests increasing bullish momentum.
Breakout: Price tested the upper trendline of the triangle. A sustained break above this level could confirm the bullish breakout.
Potential Bullish Scenario:
A confirmed breakout above the upper trendline with strong volume could lead to a significant upward move.
Target 1 (Futures): ~$0.5959
Target 2 (Futures): ~$0.7047
Stop Loss: Place a stop-loss below the recent swing low and the lower trendline of the triangle, around ~$0.4476, to protect your capital in case of a false breakdown.
Monitor the overall market sentiment and Bitcoin's price action, as they can influence altcoins like SUSDT.
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments, and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Let' analyse SUSDT:
SUSDT has been consolidating within a symmetrical triangle pattern of an ascending channel for the past few weeks, indicating a period of indecision. However, price action is now hinting at a potential bullish breakout!
Key Observations:
Triangle Consolidation: The symmetrical triangle (blue lines) shows converging trendlines, suggesting that a significant move is imminent.
EMA Ribbon: The price is currently trading above the EMA ribbon (21, 50, 99, 200 EMAs), which is starting to fan out in a bullish manner. This suggests increasing bullish momentum.
Breakout: Price tested the upper trendline of the triangle. A sustained break above this level could confirm the bullish breakout.
Potential Bullish Scenario:
A confirmed breakout above the upper trendline with strong volume could lead to a significant upward move.
Target 1 (Futures): ~$0.5959
Target 2 (Futures): ~$0.7047
Stop Loss: Place a stop-loss below the recent swing low and the lower trendline of the triangle, around ~$0.4476, to protect your capital in case of a false breakdown.
Monitor the overall market sentiment and Bitcoin's price action, as they can influence altcoins like SUSDT.
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments, and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
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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.