SasanSeifi 💁‍♂ theta / Price Consolidation in Weekly Time Frame

Hi everyone!
As you can see in the weekly time frame, after a downtrend, the price has been accompanied by positive fluctuations after ranging from the 0.56 price range. With the break of the downtrend line, it was able to grow to the 1.17 price range. Currently, it is trading in a range at the 1.023 price range.

We can consider a scenario in which the price continues to range and accumulate volume and then resumes positive fluctuations. If it consolidates above the 1.30 resistance range, we can see growth to the 1.70 liquidity range. In the case of growth, to better understand the continuation of the movement, we need to see how the price reacts to the target range.

The important support level in the weekly time frame is 0.56. Otherwise, if the price penetrates below the 0.56 LOW range and consolidates, the possibility of further correction can be considered.

🟢 Keep in mind, it's essential to perform your own analysis and take into account additional factors before making any trading choices. Best of luck! ✌️

❌ (DYOR)

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