$LUMIA /USDT - A BULLISH BREAKOUT OR A BEARISH TRAP?
Overview
The
$LUMIA /USDT pair has been on a volatile ride recently. The chart shows a clear bullish trend with a recent breakout above the resistance level. However, the current price action is also forming a bearish engulfing candle, which could signal a potential reversal.
Trade Scenarios
* Bullish Scenario: If the price breaks above the recent high, it could signal a continuation of the bullish trend. In this case, a potential target could be the next resistance level, with a stop-loss placed below the recent low.
* Bearish Scenario: If the price breaks below the recent low, it could signal a reversal of the bullish trend. In this case, a potential target could be the previous support level, with a stop-loss placed above the recent high.
Market Outlook
The overall market sentiment for
$LUMIA /USDT remains bullish, but the recent price action suggests caution. Traders should closely monitor the price action and be prepared to adjust their positions accordingly.
#LumiaUSDT #CryptoAnalysis #TradingView #TechnicalAnalysis #AltcoinSeason