Trade setup: Price is in an Uptrend. Following a bullish breakout from a Channel Down pattern, price has reached our target of $0.65 for a 17% gain. That’s a resistance zone where it got rejected in late 2023. Now we wait for price to either 1) break above $0.68 resistance to signal continuation of uptrend, with +47% upside potential to $1.00 next, or 2) pull back near $0.46 support for another swing entry in Uptrend with +17% upside potential back to $0.65.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.46 (previous resistance), then $0.40 - $0.42. The nearest Resistance Zone is $0.65 - $0.68, then $1.00.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.46 (previous resistance), then $0.40 - $0.42. The nearest Resistance Zone is $0.65 - $0.68, then $1.00.