EDELTEQ - Looking for bullish sentiment.N wave with E, V, N & NT projection.
The price is currently at 0.315 and is above the Kumo, signaling a potential bullish sentiment. However, the cloud appears thin, indicating uncertainty.
The Kumo is green, suggesting a supportive environment for upward movement, though caution remains due to proximity to key resistance levels.
But Tenkan-sen is below Kijun-sen, it typically indicates bearish sentiment in the market. Watch for scenarios where the Tenkan-sen crosses above the Kijun-sen, which can signal a potential shift from bearish to bullish sentiment. This crossover would indicate that recent price movements are starting to gain strength
NT at 0.325 serves as immediate resistance. Confirm a breakout above NT for stronger validation.
0.290 acts as immediate support; a drop below this may indicate bearish reversal.
Look for bullish candlestick patterns or a close above the cloud, which would indicate the continuation of bullish momentum.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
