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Kaspausdt

$KAS broke major support and could face a significant drop!CRYPTO:KASUSD has been experiencing steady declines after failing to sustain higher levels over the past few months. It recently broke a critical major support trendline, signaling the potential for further downside. This breakdown occurred after several attempts to push higher were rejected, especially around the $0.20 range, which had acted as strong resistance in the past. The break below the trendline, which has held strong for months, signals that selling pressure is intensifying. We're now closely watching how it reacts within the Supply Zone around $0.1251 - $0.1291. A rejection from here could accelerate the move downward. Key Levels to Watch: Short Entry Idea 1: Rejection from $0.1291 Short Entry Idea 2: Rejection from 4H SIBI at $0.1257 TP1: $0.1183 TP2: $0.1079 TP3: $0.0915 Expect further downside if CRYPTOCAP:KAS fails to reclaim these levels soon, as we could see it test Major Demand Zones below. ------------ Disclaimer: This analysis is for educational and informational purposes only. It is not financial advice, and you should not take it as such. Always conduct your own research and due diligence before making any trading decisions. Markets are highly volatile, and following any chart blindly can lead to significant losses. Trade responsibly and use risk management strategies.
Short
by MadeByAK
Will Kasia stay in the support zone?Hello everyone, let's take a look at the Kaspa chart in USDT pair, taking into account the time frame of one day. you can see here how the price has returned to the very important support zone from $0.177 to $0.0931, this is a very important zone because it is the last place of support before a strong price drop. You can see here how the price is struggling to maintain the level in the triangle, from which we can see candles that are trying to pay off the triangle with the bottom, then the last support line is visible. Looking the other way, when the price starts to rise again, first of all you can see the resistance at the level of $0.144, then the level at the price of $0.168 will be important, and then the very important resistance at the price of $0.208, which previously turned out to be the price peak.
by cryptodailyuk
Countdown to December: KASPA’s Potential Key Entry!It makes sense for this price trajectory to be fulfilled by December. It would be a great opportunity for those who missed the entire run in 2023—I only caught a small portion of it myself. Regardless, I’ll start adding to a position type trade below 11c. If it reclaims 14c before moving lower, I may consider a deviation entry. So, we have two scenarios now. It’s time to wait and see which one triggers first. CRYPTOCAP:KAS
Long
by ZelfTrade
Kaspa | KAS (100X in Bear Market!)If Kas can jump 10000% in bear market, what will happen in bull market then ? Well first of all Respect the pump and the beautiful chart pattern because while all world class banks dump like Ponzi scheme there are many solid projects in crypto that shines and shows crypto is the future of the finance and technology. Kas still didn't list on big exchanges which means there are more liquidity and attention on the way but right now you should know the best case scenario for a token with 320 million dollars market cap is a billion which means almost 300% from here so don't do YOLO and jump in with hype if you are in good gain then take some profit and have some fun and if you wonder whats the next Kaspa and crypto gem then you can count on our experts
Long
by moonypto
40
KASPA trading plan and technical analysis (4h chart frame)Technical Analysis + trade plan by Blaž Fabjan Pattern: Falling Wedge The chart shows a clear Falling Wedge pattern, which is typically a bullish reversal signal. This pattern is characterized by a downward sloping resistance and support line that converges. A breakout from this pattern often leads to a price surge. The breakout is expected as the price is nearing the end of the wedge and has touched the support line multiple times. Support and Resistance: Resistance Line: The upper boundary of the wedge acts as a resistance level. A successful breakout would target higher price levels. Support Line: The lower boundary of the wedge acts as support and has held several times. Indicators: RSI (Relative Strength Index): The RSI is around 38.57, indicating that the asset is close to oversold territory. A bounce is likely once the RSI dips further or consolidates. Stochastic RSI: Currently, the Stochastic RSI is at 30.08 and 37.92. This also indicates a potential reversal from oversold conditions, supporting the bullish outlook. Volume: The volume has been declining, which is typical before a breakout. Watch for an increase in volume as confirmation of a breakout. VMC Cipher B: The indicator suggests that the downward pressure is easing. A shift towards green momentum waves could signal the start of the upward trend. HMA Histogram: This indicator is showing a very slight bullish crossover, reinforcing the potential for a reversal. Price Action: Price is currently consolidating just above the support of the wedge. This creates a critical juncture, where the next few candles could determine the breakout direction. If the price breaks out of the wedge, expect a retest of the former resistance turned support before moving higher. Trading Plan by Blaž Fabjan: Entry: Aggressive Entry: Enter at the current price (~$0.1366) anticipating an imminent breakout from the falling wedge. Conservative Entry: Wait for a confirmed breakout above the resistance level of the wedge (around $0.145), followed by a successful retest before entering a long position. Stop Loss: Set a stop loss slightly below the wedge support, around $0.127 to $0.129, to limit downside risk in case of a false breakout or continued downtrend. Targets: First Target (T1): $0.160 - This target aligns with the previous high and key resistance. Second Target (T2): $0.180 - If the momentum continues, this level could be reached, representing a measured move from the wedge breakout. Third Target (T3): $0.200 - For more aggressive traders looking to hold longer, this level represents a strong psychological resistance. Risk Management: Position sizing should be calculated based on your risk tolerance, but a 2-3% risk per trade is generally recommended. Ensure you are not overexposed. Use a trailing stop once the price reaches the first target to lock in profits while allowing for further upside. Confirmation: Watch for an increase in volume and strong bullish candles breaking through the wedge's resistance line to confirm the breakout. If the price fails to break out of the wedge or closes below the support, the pattern is invalidated, and short-term bearish action could continue. Conclusion: The falling wedge pattern and supporting indicators suggest a potential bullish breakout in the near term. A well-planned entry near the breakout, combined with a proper stop-loss and profit targets, offers a favorable risk-reward ratio for this setup. Be cautious of potential false breakouts and follow through with the technical signals closely.
Long
by elfabiiani
1
KAS zones for correctionKAS idea shared before but here is small updates MEXC:KASUSDT Possible Targets and explanation idea ➡️W tf. Basic 3 drive pattern on a Weekly chart - bearish pattern ➡️M fvg like a magnet for correction ➡️Most likely we will test buy line on a W tf. and will close at least 50% fvg ➡️Leave 2 main liquidity pools around M fvg ➡️Money inflow indicator Bearish div marked on a chart ➡️Money outflow on a W chart Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
Short
by Crypto4light
KASPA TECHNICAL ANALYSIS + TRADE PLAN 2024 BY BLAŽ FABJANTA+TRADE plan by Blaž Fabjan Descending Triangle Formation: A clear descending triangle pattern is observed with lower highs (resistance) and a horizontal support around the $0.14 level. This is typically a bearish pattern, but in some cases, it can lead to a breakout to the upside. The current price is close to the triangle’s apex, indicating a potential breakout soon. Support and Resistance Levels: Resistance: The downtrend resistance line is around $0.145 to $0.15. A break above this level would indicate a bullish reversal. Support: The horizontal support around $0.14 has been tested multiple times. If the price breaks below this, it could trigger a further decline toward the next major support at around $0.13. Indicators: Volume Moving Average Convergence Divergence (VMAC): There are visible divergences, suggesting that momentum might be building. The overall indicator seems to support a bullish divergence. Relative Strength Index (RSI): The RSI is near the oversold region (~35.49). This suggests that selling pressure might be easing, and a reversal could be imminent. Stochastic Oscillator: The stochastic is near oversold levels, which often precedes a bullish move if it crosses upward. Hull Moving Average (HMA): The histogram is showing signs of reduced bearish momentum, with green candles suggesting a possible bullish shift. Trading Strategy Bullish Scenario (Breakout to the upside): Entry: Consider entering a long position on a confirmed breakout above $0.145-$0.15 (the resistance line). This would signal the end of the descending triangle and likely lead to upward momentum. Target 1: $0.17, which would align with the projected move from the triangle breakout. Target 2: $0.19, a previous high and psychological resistance level. Stop Loss: Place a stop loss below $0.138 to minimize risk in case of a false breakout or bearish continuation. Bearish Scenario (Breakout to the downside): Entry: If price breaks below the $0.14 support level with volume, it could signal a bearish continuation. Short positions could be considered in this case. Target 1: $0.13, the next major support. Target 2: $0.12, the next significant psychological support level. Stop Loss: A stop loss above $0.145 (above the resistance) would minimize risk if the trade reverses. To sum up: The current technical picture is at a critical point with a descending triangle suggesting a potential breakout in either direction. The oversold conditions in the RSI and stochastic, along with possible bullish divergence, lean towards a bullish breakout. However, be prepared for a downside if the $0.14 support fails. Monitoring the volume during the breakout is crucial to confirm the direction and strength of the move.
Long
by elfabiiani
2
Kaspa technical analysis + trade plan (27.09.2024) by BFTechnical Analysis + trade plan by Blaž Fabjan Chart Pattern: Falling Wedge (Uptrend Bias) A falling wedge pattern is present, which typically signals a bullish reversal. In this case, the price seems to be nearing the breakout point of the wedge. The breakout direction is upwards, and this pattern typically leads to a price increase if confirmed. Support and Resistance Levels Resistance Line: The upper line of the falling wedge, acting as dynamic resistance. Support Line: The lower line of the wedge, acting as dynamic support. Volume Volume levels indicate significant interest, especially when approaching a potential breakout zone. The volume profile shows that recent trading sessions have been accompanied by a spike in activity, which can be a good sign for momentum. Indicators VMC Cipher B (Divergences): This indicator shows divergence signals, indicating possible trend reversals. It appears to be bullish with green dots forming at key points, suggesting an upward move. RSI (Relative Strength Index): The RSI is around 54.79, which is neutral but slightly tilting towards bullish. It suggests that the market isn't overbought or oversold. Stochastic Oscillator: Around 75.24, this indicator shows a bullish cross, indicating momentum might be shifting upward, but it's approaching the overbought zone. HMA+ Histogram: Appears to be indicating short-term momentum change as the trend might be shifting upwards. Price Prediction/Target If the falling wedge plays out as expected, the price could target higher levels, breaking the $0.165-$0.170 range. The chart suggests a further upward target in the next phase, as highlighted by the projected arrow and airplane symbol. Trading Plan Entry Strategy: Buy on Breakout: If the price breaks above the resistance line of the falling wedge (around $0.166 or slightly higher), consider entering a long position. Confirmation: Wait for at least a 4-hour candle close above the resistance to confirm the breakout. Aggressive Entry: You could also enter once the price reaches near the support line but remains cautious if the breakout has not been confirmed. Stop Loss: Place a stop loss below the recent swing low or just under the support line of the wedge (around $0.160). This will protect against a potential fake breakout. Take Profit Targets: Short-term Target: $0.175 - $0.180 (the first major resistance after breakout). Medium-term Target: $0.190 and beyond, as indicated by the chart. Risk Management: Avoid risking more than 2-3% of your total portfolio on this trade. Adjust your position size based on the stop-loss distance and your risk tolerance. Monitoring: Keep an eye on the volume and the RSI levels. If RSI enters the overbought zone (above 70), consider reducing your position or securing profits. Watch for any signs of a failed breakout, as this could lead to a sharp drop back into the wedge pattern. Exit Strategy: If the price fails to break out and starts to drop below the support line, exit the trade. If the price hits the overbought zone on both RSI and Stochastic, it might be wise to secure profits at key levels mentioned. Conclusion: The overall outlook based on the chart suggests a bullish breakout is likely if the falling wedge pattern completes. This offers a good risk-to-reward ratio for a long position if managed carefully with proper stop losses and monitoring of key indicators like volume and RSI.
Long
by elfabiiani
KASPA USDT 4H CHART TA+price predictionHi! Today I will analyze Kaspa / Usdt chart on 4h timeframe and I will look up what's following in near future - price prediction. TA by Blaž Fabjan The descending triangle is highlighted, signaling a potential bearish continuation or reversal. 1. Resistance is marked on the chart, suggesting that the price is struggling to break above that level. 2. Support is seen near the base of the triangle. If this support level breaks, a more significant downside is expected. Indicators: VMC Cipher Divergences: Suggesting a mix of bullish and bearish divergences. Current momentum appears bearish, as evidenced by the divergences. However, there could be a potential reversal, depending on the market structure. RSI (Relative Strength Index): Sitting near the lower range (~42.77), which suggests that the asset is not yet oversold, but it's approaching a level that could present a buying opportunity if oversold conditions are met. Stochastic RSI: It appears oversold (~42.35), indicating that a reversal or upward momentum might be due soon. Price Action: The chart shows a potential downward move towards the lower boundary of the triangle, which is marked with an emoji representing the target zone. A bounce from this zone may lead to a bullish breakout, as indicated by the upward arrow. If the price falls below the triangle, the next support is likely around the $0.1500 level (as per the emoji), with a possible further decline if that level is breached. Volume: The volume appears stable, but no significant spikes indicate a strong trend change or momentum yet. Low volume during a potential breakdown would suggest a weaker move, while a volume spike could confirm the breakout/breakdown. Trading Plan Short-Term Outlook (Bearish Continuation): Entry: If the price breaks below the current support at ~$0.1600, short positions could be considered, targeting the next support near $0.1500 or lower. Stop Loss: Set just above the resistance level, around $0.1700, to minimize risk. Target: Short-term targets would be $0.1500 (first support), potentially moving lower depending on market conditions. Bullish Reversal (Medium- to Long-Term Outlook): Entry: If the price bounces off support (as indicated by the chart), wait for confirmation of a reversal before entering. Look for a close above $0.1700 as a bullish sign. Stop Loss: Set below the triangle's lower boundary at ~$0.1550. Target: First target could be around $0.2100, following the chart’s indication of a potential sharp upward movement. Breakouts from descending triangles often lead to significant upward momentum. Confirmation: Wait for confirmation of direction either through volume increase or a clear breakout from the triangle. Trade cautiously within the triangle as price movements could be choppy. In summary, the chart suggests a possible short-term bearish movement towards the $0.1500 level, followed by a potential bullish reversal. Watch for breakout confirmation and act accordingly based on the defined trading plan.
Long
by elfabiiani
KAS/USDT Trading ScenarioThe KAS’s price chart continues to follow an upward trend, with the trendline successfully acting as a support level four times, indicating its significant strength. From a volume profile perspective, the current asset price is in a zone of heightened market participant interest, with a key volume level POC at $0.16833. After the news about a potential Fed rate cut, a short-term correction is likely, as the market has probably already priced this event in. In this case, we may see sell-offs following the news release. However, in the long term, growth potential remains, with the trendline, once again being tested, serving as a possible reversal point.
by Rick_SimpleSwap
KASUSDT: Peter's resistance was broken (or Fake Breakout?)Trading Setup: A Trading Signal is seen in the KASUSDT Kaspa (4h) (spot) Traders can open their Buy Trades NOW ⬆️Buy now or Buy on 0.1598 ⭕️SL @ 0.1500 🔵TP1 @ 0.1915 🔵TP2 @ 0.2190 🔵TP3 @ 0.2550 What are these signals based on? Classical Technical Analysis Price Action Candlesticks Fibonacci RSI, Moving Average , Ichimoku , Bollinger Bands Risk Warning Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. If you liked our ideas, please support us with your likes 👍 and comments .
Long
by pullbacksignal
2
KAS - Slightly bullish, make or break in the next few daysKAS - Slightly bullish. MACD coming back to neutral, despite recent selling pressure and bearish divergence. KAS is still staying within the larger bull channel and held at the 0.12 cent level, so I expect a possible bounce to 0.17 before coming back down to the 200 DMA. If we hold at the 0.14 level, I foresee KAS testing the shorter bull channel lower bound which is now resistance. If KAS does not hold at the 0.14 level over the next few days, I expect it will test the bottom of the larger channel which is in the 0.12 cent range. In that case, it might bounce off the bottom of the channel keeping in the bullish structure but a death cross can push KAS out of that channel quickly on failure.
CRYPTO:KASUSDLong
by DClayton
KASPA / USDT 4H TIMEFRAME MEXC TECHNICAL ANALYSISFalling Wedge Pattern: The chart shows a falling wedge pattern, which is a bullish signal. This pattern suggests that the price might soon reverse and move upward. Oversold Conditions: The RSI and Stochastic RSI indicators are in the oversold zone. This typically means that the asset is undervalued and could see a price increase soon. Volume Spike: There's a noticeable increase in trading volume as the price reaches the bottom of the wedge. This suggests strong buying interest and supports the idea of an upcoming upward move. Potential Price Target: If the price breaks out of the wedge, it could move toward the $0.22 to $0.24 range, as shown by the projected arrow on the chart. Conclusion: The chart suggests a potential bullish reversal. If the price breaks above the wedge, it could lead to a significant upward move. Keep an eye on the breakout level and consider managing risk by setting a stop-loss below the recent low. This analysis highlights the key factors indicating a potential price increase for the KAS/USDT pair.
Long
by elfabiiani
Kaspa - BullishKaspa - Bullish. Kaspa has been green in a sea of red this past week, still very bullishon the daily with a healthy pullback. -Tested the top of the long-term bullish channel which started 11/04/2023. -Moving with the more recent bullish channel starting 5/1/24. -Keeping with the long-term trendline with a healthy pullback to 0.18269 (keeping with trendline) -Pullback from the highs of 0.2078 on 8/2/24, matching up with when it was overbought on the MACD. -Pullback on 8/2/24 coincided with peak fear on the fear & greed index, coming out of peak greed zone toward neutral 8/3/24. I think KASPA will hold at 0.1859, or possibly tag the bottom of the bullish channel (which it historically likes to do) at 0.1802 before moving to retest the top part of the long-term channel and advance out of that while in the short-term bullish channel to 0.2233. I especially think this will be the case if the wider crypto market is still bleeding on 8/3/24 when the US session gets started. Invalidation would be if on 8/3/24 we see a sustained pullback below 0.1802.
CRYPTO:KASUSDLong
by DClayton
KAS below channel with C&H pattern + ascending triangleKAS is booming in popularity on Twitter/X. Proof of work token featuring BlockDAG technology. BLOCKDAG Feature: multiple transactions are added to blockchain in a web-like formation vs BLOCKCHAIN: Single transactions added to the chain in a single line. Cup and Handle Pattern formed and playing out. Turned into an Ascending Triangle. Both of these are large bullish formations. Future Resistances based on Fibonacci Levels: $0.23, $0.30, $0.38 Triangle Invalidation Level: $0.155 Support Levels: $0.14, $0.13, $0.125 Average Volume increasing from last month.
Long
by CryptoMitchX
3
Handelssignal für KASUSDT KaspaHandels-Setup: Ein Handelssignal wird im KASUSDT angezeigt. Händler können ihre Kaufgeschäfte JETZT eröffnen. ⬆️Jetzt kaufen oder bei 0,16980 kaufen ⭕️SL @ 0,15728 🔵TP1 @ 0,22000 🔵TP2 @ 0,25500 🔵TP3 @ 0,28800 Worauf basieren diese Signale? Klassische technische Analyse Preisaktion Candlesticks Fibonacci RSI, gleitender Durchschnitt, Ichimoku, Bollinger-Bänder Risikowarnung Der Handel mit Forex, CFDs, Krypto, Futures und Aktien birgt ein Verlustrisiko. Bitte überlegen Sie sorgfältig, ob ein solcher Handel für Sie geeignet ist. Die Wertentwicklung in der Vergangenheit ist kein Indikator für zukünftige Ergebnisse. Wenn Ihnen unsere Ideen gefallen haben, unterstützen Sie uns bitte mit Ihren Likes 👍 und Kommentaren .
Long
by pullbacksignal
2
Trading Signal For KASUSDT Kaspa Trading Setup: A Trading Signal is seen in the KASUSDT Traders can open their Buy Trades NOW ⬆️Buy now or Buy on 0.16980 ⭕️SL @ 0.15728 🔵TP1 @ 0.22000 🔵TP2 @ 0.25500 🔵TP3 @ 0.28800 What are these signals based on? Classical Technical Analysis Price Action Candlesticks Fibonacci RSI, Moving Average , Ichimoku , Bollinger Bands Risk Warning Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. If you liked our ideas, please support us with your likes 👍 and comments .
Long
by pullbacksignal
KAS: Approaching ResistanceTrade setup : Remain in an Uptrend. It pulled back briefly but made a Higher Low (sign of Uptrend) and broke back above $0.15 key level. Momentum has inflected bullish (MACD Histogram bars are rising). Price is now approaching our near-term target $0.194 for a +25% gain. Now we look for the right entry opportunity in Uptrend. We wait for price to either 1) break above $0.20 to signal continuation of uptrend, or 2) pull back near $0.15 support for another swing trade entry in Uptrend with +25% upside potential back to $0.194. Pattern : Price is Approaching Resistance , which is a level where it could pause or reverse its recent advance, at least temporarily. Resistance is often a level where price got rejected in the past, or potentially prior Support level that was broken. (concept known as polarity). Once price breaks above resistance, it can advance higher to the next resistance level. Learn to trade key levels in Lesson 7. Trend : Short-term trend is Strong Up, Medium-term trend is Up and Long-term trend is Strong Up. Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $0.15, then $0.13. Nearest Resistance Zone is $0.194, then $0.24.
Long
by altFINS
1
Technical Analysis of KAS/USDT (4-Hour Chart) #kaspa $kas #usdtTechnical Analysis of KAS/USDT (4-Hour Chart) by Blaž Fabjan The chart displays a falling wedge pattern, which is typically a bullish formation, indicating a high probability of an upward breakout. Indicators: VMC Cipher B Divergences: This indicator shows bullish divergences at multiple points, supporting the possibility of an upward breakout. RSI (14): Currently at 39.82, indicating the market is somewhat oversold and we may expect price growth. Stochastic Oscillator (14, 1, 3): Values are 34.88 and 36.88, indicating an oversold condition, often a buy signal. Recommended Entry Points for Trading: Intra-Day Trading: Entry: $0.145 (at the current price or upon a slight dip) Target Price: $0.155 (first resistance level) Stop Loss: $0.140 (to protect against significant losses) Swing Trading: Entry: $0.145 (at the current price or upon a slight dip) Target Price: $0.165 - $0.170 (potential breakout from the falling wedge) Stop Loss: $0.135 (to protect against significant losses) Recommended Exit Points for Trading: Intra-Day Trading: Exit Price: $0.155 Alternative Exit Price: $0.150 (if the market shows signs of weakness) Swing Trading: First Target Price: $0.165 Second Target Price: $0.170 Exit Price on Reversal: $0.135 (to protect against significant losses) Summary: Based on the technical analysis and applied indicators, the current trend for KAS/USDT is positive, with potential for an upward breakout from the falling wedge. Recommended entry points are at the current price of $0.145 with target prices of $0.155 for intra-day trading and $0.165 - $0.170 for swing trading. Closely monitor the market and use stop loss to protect against unexpected downturns.
Long
by elfabiiani
KAS: Pullback in UptrendTrade setup : Following a breakout from Falling Wedge pattern and above 200-day moving average, price signaled resumption of Uptrend. However, it reached $0.19 resistance where it got rejected in February and was also very overbought (RSI > 80), and pulled back on profit taking. This is almost identical situation to that in February. We would be buyers on pullbacks near $0.15 support area for another swing trade entry with +25% upside potential back to $0.19. Stop Loss (SL) at $0.138. If price breaks above it's ATH of $0.194, the next possible resistance levels (price targets) based on Fibonacci Extensions are: $0.207 (61.80%), $0.223 (78.60%), $0.243 (100%) and $0.30 (161.80%). Pattern : Pullback in Uptrend. Price remains in an Uptrend but has pulled back, which could present a 'buying dip' opportunity. Traders should look for the nearest support level where price could stabilize and resume its Uptrend. This support level could be a level where price bounced off of in the past, or a level that was previously resistance. (concept known as polarity).Learn to trade key levels in Lesson 3. Trend : Short-term trend is Strong Up, Medium-term trend is Strong Up and Long-term trend is Strong Up. Momentum : Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $0.15, then $0.13. Nearest Resistance Zone is $0.194, then $0.24.
Long
by altFINS
KASPA: Pullback in UptrendTrade setup : Following a breakout from Falling Wedge pattern and above 200-day moving average, price signaled resumption of Uptrend. However, it reached $0.19 resistance where it got rejected in February and was also very overbought (RSI > 80), and pulled back on profit taking. This is almost identical situation to that in February. We would be buyers on pullbacks near $0.15 support area for another swing trade entry with +25% upside potential back to $0.19. Stop Loss (SL) at $0.138. If price breaks above it's ATH of $0.1.94, the next possible resistance levels (price targets) based on Fibonacci Extensions are: $0.207 (61.80%), $0.223 (78.60%), $0.243 (100%) and $0.30 (161.80%). Pattern : Pullback in Uptrend . Price remains in an Uptrend but has pulled back, which could present a 'buying dip' opportunity. Traders should look for the nearest support level where price could stabilize and resume its Uptrend. This support level could be a level where price bounced off of in the past, or a level that was previously resistance. (concept known as polarity).Learn to trade key levels in Lesson 3. Trend : Short-term trend is Up, Medium-term trend is Strong Up and Long-term trend is Strong Up. Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $0.15, then $0.13. Nearest Resistance Zone is $0.194, then $0.24.
Long
by altFINS