$ETH This chart shows a technical analysis of the SAGA/USDT Perpetual Contract on the 4-hour timeframe from Binance. Here's a breakdown of the key elements:
๐ Chart Analysis
Support and Resistance Levels
Resistance Zone: Around $0.2300 (marked in red) โ multiple rejections here in the past.
Intermediate Resistance: $0.2161 โ now being tested or recently broken.
Support Zone:
$0.2072 โ $0.2039 (marked in blue) โ previous price floor with multiple touches.
Trendline Support: Green ascending trendline indicating higher lows.
๐ Price Action & Breakout
The chart suggests a bullish breakout above $0.2161, with the recent candle closing strong at $0.2223.
Target move is marked with an 8.89% increase (0.0181) from breakout, aiming for around $0.2300.
๐ผ Bullish Indicators
Higher lows (green trendline).
Clean breakout from sideways accumulation range.
Volume and momentum not shown, but price structure suggests strength.
๐ฝ Potential Pullback/Retest
Price could retest $0.2161 or dip to $0.2072โ0.2039 (blue zone) for a higher low before another move upward.
โ Key Levels to Watch
TypePriceEntry Zone$0.2161Support$0.2038 / $0.2072Target$0.2300Risk AreaBelow $0.2030
๐ Summary:
Bullish breakout confirmed above $0.2161.
Possible continuation toward $0.2300.
Look for support to hold above $0.2038โ0.2072 if price pulls back.
Let me know if you want a trading plan (entry/SL/TP) or RSI/Fibonacci analysis added.