MOVEUSDT SPOTAlış
MOVE/USDT: Breakout Watch at Descending Resistance
This is my technical analysis for MOVE/USDT on the 4-hour timeframe. The price is currently trending downwards, respecting a descending resistance line I’ve drawn, which connects multiple swing highs in the recent price action.
Key observations:
Resistance Line: The trendline is clearly acting as resistance, with multiple touches confirming its validity. A breakout above this line could signal a reversal in trend.
Support Zone: The support level around $0.60 has held well so far. If the price continues to respect this support, we could see a breakout attempt in the near term.
Volume: Volume has been steadily declining, suggesting that the market is consolidating. A volume spike at the trendline could confirm the breakout or breakdown.
RSI Divergence: The RSI is showing a potential divergence, hinting at weakening bearish momentum.
Trade Idea:
Bullish Scenario: If the price breaks above the trendline with strong volume, I will target the next resistance zone around $0.70–$0.75. My stop loss for this trade will be just below $0.60, in case the support fails.
Bearish Scenario: If the price breaks below the $0.60 support, the next target could be $0.50. I will wait for confirmation before entering a short position.
I’m setting alerts at both the trendline and the $0.60 level to monitor the movement closely.
Key observations:
Resistance Line: The trendline is clearly acting as resistance, with multiple touches confirming its validity. A breakout above this line could signal a reversal in trend.
Support Zone: The support level around $0.60 has held well so far. If the price continues to respect this support, we could see a breakout attempt in the near term.
Volume: Volume has been steadily declining, suggesting that the market is consolidating. A volume spike at the trendline could confirm the breakout or breakdown.
RSI Divergence: The RSI is showing a potential divergence, hinting at weakening bearish momentum.
Trade Idea:
Bullish Scenario: If the price breaks above the trendline with strong volume, I will target the next resistance zone around $0.70–$0.75. My stop loss for this trade will be just below $0.60, in case the support fails.
Bearish Scenario: If the price breaks below the $0.60 support, the next target could be $0.50. I will wait for confirmation before entering a short position.
I’m setting alerts at both the trendline and the $0.60 level to monitor the movement closely.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.