Dip buy ELDAThe time has come to sip by ELDA. I called the bottom at 0.0026. I sold the top at 0.016. Now I'm buying the dip @ 0.009.
ELDAUSDT trade ideas
$ELDA Bull Case - Eye support retest + Upward breakouts
Very interesting chart for $ELDA. Multiple retests of the support, with a very strong recent rejection (3x volume spike). The support is also extremely close to launch price.
RSI bearish divergencies seem to signal that the support will be tested again very soon.
Another bounce might very well lead to a breakout of the current pattern and a breakout of the 0.382 FIB resistance.
The chart seems very respectful of FIB levels, if there is an upwards breakout I would be looking as high as 0.618 FIB for TP.
Potential entries for me would be:
High R/R: Another bounce on the support
Lower R/R: Support bounce, then wait for upward breakout of trendline/resistance
RSI trendline breakout might act as leading signal, keep an eye on it.
Not investment advice - DYOR
Keep in mind that this has extremely low market cap, expect high volatility
Completing the bowl formation - LongELDA, which has been in a downward trend for a long time, broke the downward trend and entered the upward trend. A large bowl formation is formed. When the bowl formation is completed, it will go to the target as in the chart.
