$MTL / USDT – Minor Pullback After Recent High – Holding Support? 🤔

$MTL / USDT is currently trading at $0.853, down slightly by -0.93% today. Looking at the 4-hour chart, we can see a recent push towards the $0.895 high, followed by a mild pullback to the current level, which is above the 24-hour low of $0.841.

🧐 Potential Trading Scenarios:

* Support Level: The $0.84 - $0.85 zone appears to be acting as immediate support. Watch if this level holds.

* Retracement Depth: The current pullback seems relatively shallow, suggesting potential continued bullish interest.

* Resistance Overhead: The recent high of $0.895 will likely act as the next significant resistance level.

📈 Potential Long Entry (If Support Holds): Consider entering around the $0.85 level with a stop loss placed just below $0.84. Initial targets could be the previous swing highs around $0.87 and then $0.895. A break above $0.895 could target higher levels.

📉 Potential Short Entry (If Resistance Holds): If the price rejects the $0.895 level again with strong bearish momentum, a short entry targeting the $0.85 support could be considered. A break below $0.84 might lead to further downside.

⚠️ Outlook:

MTL/USDT has seen a recent bullish move and is now experiencing a minor pullback to a potential support area. The price action around this level will be important in determining the short-term direction. Monitor volume and candlestick patterns for confirmation. Always practice sound risk management.

MTLUSDT · Binance

0.853 -0.002 (-0.23%) (based on the last 4 hours)

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