$W/USDT Technical Analysis: Bullish Reversal with Potential for Further Gains.
The w/USDT chart currently exhibits a strong "W" or Double Bottom pattern, indicating a bullish reversal. After reaching a low of $0.0594, the price has rallied significantly, breaking above resistance levels.
Key Levels:
* Current Price: $0.0700
* 24h High: $0.0725
* 24h Low: $0.0594
Analysis:
The "W" pattern, combined with the recent price action and the significant 24-hour volume of 29.62M USDT, strongly suggests a bullish continuation. The breakout above the neckline of the "W" pattern (around $0.068) confirms the bullish momentum.
Entry & Target:
* Entry Level: A retest of the $0.068 - $0.070 zone could offer a good entry point if the price consolidates. Alternatively, entering on a confirmed break above $0.0725 would confirm strong bullish continuation.
* Target 1: $0.075 - $0.078 (based on the height of the "W" pattern projected upwards)
* Target 2: $0.082 - $0.085 (if bullish momentum continues)
Stop Loss:
* Stop Loss: A tight stop-loss below the recent swing low, around $0.066, or a more conservative stop-loss below the neckline of the "W" pattern at $0.065, would be advisable to manage risk.
