$1000CHEEMS – Lateral consolidation, are we ready for a breakout?

Narrow range between $0.001425 - $0.001491 stable

Moving averages are flattening, indicating an imminent movement

$1000CHEEMS is trading in a narrow range, wrapping above the main moving averages.

The price has respected the support at $0.001425 several times, while $0.001491 remains a strong resistance.

The moving average (7), moving average (25), and moving average (99) are converging - indicating a potential setup for a breakout.

🟢 Long trade setup

Entry area: $0.001440 - $0.001445

Take profit (TP): $0.001485

Stop loss (SL): $0.001423

Market outlook:

Breakout above $0.00149 with volume may trigger a move towards $0.00152+.

Expect increased volatility as the pressure approaches its end.

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