Mirzad01
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Bullish
$WLD This is the chart of the WLD/USDT cryptocurrency on the daily time frame (1D) displayed on the Binance exchange. The analysis is based on Elliott wave counting and it seems that waves 1 and 2 have been completed, and an upward movement in the form of wave 3 is expected.
Technical analysis of the chart:
1. Support and resistance:
Strong support level: around 1.417 USDT (red line).
Key resistance level: around 3.051 USDT (blue line).
2. Elliott wave pattern:
The first upward wave (1) has formed and after correction, the second wave (2) has been completed.
The price is in the consolidation range marked in a yellow box.
If the range area is broken, the price is expected to grow to the range of 6.5 USDT in the form of the third wave (3).
After the third wave, a correction in the form of the fourth wave (4) and then the continuation of the upward trend is expected.
3. Conditions for entering the trade:
A break of the resistance of 3.051 USDT will confirm the start of the third wave.
If the price falls below the 1.417 USDT range, the analysis may become invalid and a bearish scenario may be considered.
Conclusion:
The current situation indicates the possibility of the start of an upward movement if the key resistance is broken.
A consolidation above 3.051 USDT will be a strong signal for the start of the third wave.
Capital management and compliance with stop losses are necessary to control losses in case of a trend change.
Technical analysis of the chart:
1. Support and resistance:
Strong support level: around 1.417 USDT (red line).
Key resistance level: around 3.051 USDT (blue line).
2. Elliott wave pattern:
The first upward wave (1) has formed and after correction, the second wave (2) has been completed.
The price is in the consolidation range marked in a yellow box.
If the range area is broken, the price is expected to grow to the range of 6.5 USDT in the form of the third wave (3).
After the third wave, a correction in the form of the fourth wave (4) and then the continuation of the upward trend is expected.
3. Conditions for entering the trade:
A break of the resistance of 3.051 USDT will confirm the start of the third wave.
If the price falls below the 1.417 USDT range, the analysis may become invalid and a bearish scenario may be considered.
Conclusion:
The current situation indicates the possibility of the start of an upward movement if the key resistance is broken.
A consolidation above 3.051 USDT will be a strong signal for the start of the third wave.
Capital management and compliance with stop losses are necessary to control losses in case of a trend change.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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