1-The first reason (weekly time frame):
Approaching its own support levels means the last uptrend and weekly pivot level
Moreover, it is located in an BULLISH channel and it started to fall before reaching the HIGH of this channel. And maybe IT wants to move again towards the HIGH of the channel or at least his previous HIGH.
2- The second reason (daily time frame):
The downward movement has taken more time compared to its previous growth
And it has reached the 50% level of S1 and S2 of the pivot indicator, which is a very important level for forming a bottom
Be pessimistic about another drop, the S2 level of the daily time frame pivot is suitable for growth
3- The third reason (time frame of 4 hours)
Reaching the bottom of the BEARISH channel as well as the S2 level of the pivot indicator in the 4-hour time frame emphasizes the possibility of making a bottom from this area.
4- The fourth reason (time frame of 4 hours)
Seeing high red volumes during the recent DROP, which can then turn into an upward movement (pump).
Targets in order from short term to long term:
Target 1: 0.01405 (+40%)
Target2: 0.01845 (+80%)
Target3: 0.026 (+150%)
This analysis and reasons are my personal opinion and you make the final decision yourself
Comment your opinion
Approaching its own support levels means the last uptrend and weekly pivot level
Moreover, it is located in an BULLISH channel and it started to fall before reaching the HIGH of this channel. And maybe IT wants to move again towards the HIGH of the channel or at least his previous HIGH.
2- The second reason (daily time frame):
The downward movement has taken more time compared to its previous growth
And it has reached the 50% level of S1 and S2 of the pivot indicator, which is a very important level for forming a bottom
Be pessimistic about another drop, the S2 level of the daily time frame pivot is suitable for growth
3- The third reason (time frame of 4 hours)
Reaching the bottom of the BEARISH channel as well as the S2 level of the pivot indicator in the 4-hour time frame emphasizes the possibility of making a bottom from this area.
4- The fourth reason (time frame of 4 hours)
Seeing high red volumes during the recent DROP, which can then turn into an upward movement (pump).
Targets in order from short term to long term:
Target 1: 0.01405 (+40%)
Target2: 0.01845 (+80%)
Target3: 0.026 (+150%)
This analysis and reasons are my personal opinion and you make the final decision yourself
Comment your opinion
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.