$WET /USDT LONG TRADE SETUP
$WET is currently trading at 0.23226 (15m chart), sitting right on its 24-hour low of 0.22621. The price has seen a significant pullback from the recent high of 0.32085, finding crucial support at the psychological and structural low area. A potential bounce from this demand zone could signal a short-term reversal or a dead cat bounce back to recent consolidation levels.
Entry Zone: Consider entries as close to the 0.22600 - 0.23000 support area as possible, with confirmation of a bullish candle or volume spike.
Target Points (TP)
Based on the recent candles and resistance from the breakdown:
TP1: 0.24230 (The low of the previous consolidation range)
TP2: 0.26312 (Mid-range resistance before the major drop)
TP3: 0.28394 (The lower boundary of the initial major distribution)
Stop Loss (SL)
Set stop loss below the 24-hour low to respect the market structure:
Stop Loss: Set stop loss below 0.22500 to limit downside risk if the 24h low support breaks decisively.
Action
Buy and Trade $WET
on a confirmed bounce off the 24h low support.
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