ZetachainLong
ZETACHAINUSD 12/11/2024
ZETACHAINUSD Daily Chart Analysis
Overview:
ZETACHAINUSD is a relatively new coin on Coinbase, launched at the end of September 2024.
Chart Pattern:
• The price has been trading within an expanding triangle pattern, with well-defined support and resistance levels.
• Currently, the price is sitting at a support level, suggesting a potential reversal.
Technical Indicators:
• MACD: In bullish territory, indicating positive momentum.
• Candlestick Pattern: At the end of today, the formation of a bullish engulfing pattern at support is likely, further confirming a potential reversal.
Trade Opportunity:
If the engulfing pattern completes by today’s close, it presents a good swing trade opportunity to the resistance level. The trade will be entered at the next day’s open.
________________________________________
Trade Setup:
• Entry Price: 0.7334
• Stop-Loss: 0.5865 (-20.03%)
• Target Price: 0.9913 (+35.16%)
• Risk-Reward Ratio: 1.76:1
________________________________________
Summary:
ZETACHAINUSD is showing signs of reversal from support within an expanding triangle pattern. Confirmation of the bullish engulfing pattern at the close strengthens the setup for a potential swing trade to resistance. Monitoring the daily close is crucial to confirm entry.
Overview:
ZETACHAINUSD is a relatively new coin on Coinbase, launched at the end of September 2024.
Chart Pattern:
• The price has been trading within an expanding triangle pattern, with well-defined support and resistance levels.
• Currently, the price is sitting at a support level, suggesting a potential reversal.
Technical Indicators:
• MACD: In bullish territory, indicating positive momentum.
• Candlestick Pattern: At the end of today, the formation of a bullish engulfing pattern at support is likely, further confirming a potential reversal.
Trade Opportunity:
If the engulfing pattern completes by today’s close, it presents a good swing trade opportunity to the resistance level. The trade will be entered at the next day’s open.
________________________________________
Trade Setup:
• Entry Price: 0.7334
• Stop-Loss: 0.5865 (-20.03%)
• Target Price: 0.9913 (+35.16%)
• Risk-Reward Ratio: 1.76:1
________________________________________
Summary:
ZETACHAINUSD is showing signs of reversal from support within an expanding triangle pattern. Confirmation of the bullish engulfing pattern at the close strengthens the setup for a potential swing trade to resistance. Monitoring the daily close is crucial to confirm entry.
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.