TP 10-15-20$
chart analysis @lunyoner
General View – 2D Time Frame
The chart has progressed within a descending parallel channel for about 9 months since the end of 2023. In the last candle, the upper band of this channel has been broken with strong volume. This indicates that a potential trend reversal and a new upward wave have begun.
Formation and Formation Reversal
📌 Formation:
Descending channel
The upward breakout of such structures heralds a strong rise.
Formation target: rise as much as the channel length.
📌 Formation Reversal:
The channel upper band has been broken → confirmation of reversal.
Confirmation of the rise comes with the retest and the subsequent momentum.
Support – Resistance Levels
Current price: 0.2160
Supports:
0.1900 → Channel middle line (important pivot area)
0.1350 – 0.1450 → Channel bottom area
Resistances:
0.3600 → Horizontal major resistance
0.9500 → Long-term resistance
2.4000 → Formation target
Target and Price Projection
📈 Formation targets:
TP1: 0.3600
TP2: 0.9500
TP3: 2.4000
TP4 (bull scenario): expansion target between 5.80 – 8.00.
The highest logarithmic target: 15 – 20 dollar range (macro super trend target, in the major bull cycle scenario).
Indicators
RSI (2D): Heading towards 65, breakout and momentum increase are supported.
MACD: Has crossed, histogram has turned green → momentum confirmation.
Volume: Rising volume during breakout → a sign of healthy upward movement.
4h – 1d – 1w Volume Analysis
4H: Short-term volume increase following the breakout.
1D: There is an increase in volume in the last breakout candle and the subsequent green candle.
1W: Weekly volume has tested its highest levels since the bottom, supporting this long-term reversal.
Trend Direction
An upward reversal has begun in 2D and 1D.
If weekly closes remain above, the trend is expected to shift to the medium term.
Trend direction: UP
Roadmap
After the channel breakout, the price is expected to test between 0.1900 – 0.2000 with a retest.
Then the first target is 0.36, if this area is surpassed, a wide area opens up to 0.95.
A parabolic upward trend may begin with closes above 1.00.
In the final stage, the target will be the 2.40 – 5.80 range.
In the macro cycle, the 8 – 15 dollar area can be targeted.
Strategy and Recommendation
📌 Position Plan:
Buy: After a sustained 2D close above the channel upper band.
Additional buying area: 0.1900 – 0.2000 area (retreat area).
Stop-loss: 2D close below 0.1350.
TP1: 0.36
TP2: 0.95
TP3: 2.40
TP4: 5.80 – 8.00
📌 Tactic:
The upward trend has begun.
Volume breakouts are traded.
If a retest occurs, it provides an opportunity.
It is important to be patient and take profits gradually.
Conclusion
@lunyoner states that this chart reveals a classic textbook breakout structure with a falling trend reversal formation. Volume-supported breakout indicates that the macro trend is changing. If a retest occurs, this could turn into a significant buying opportunity.
An increase in the upward trend is expected to continue gradually up to the 0.95 – 2.40 range. The macro cycle can be followed with a wide target zone between 5 – 8 dollars.