Long #IDOL at $0.0306
Situation:
The price of IDOLUSDT has broken down from a strong descending wedge and has bounced off the support level around $0.029. After this, a “Buy” signal has been recorded on the 4H timeframe. Volumes are increasing, and a bullish engulfing candle has formed.
Entry:
📍 $0.0306
(at the time of the signal, the price is trading around $0.0303–0.0304)
Take Profit Targets:
• 🎯 TP1: $0.0335 (previous strong resistance level)
• 🎯 TP2: $0.0380 (body of the reversal candle 4H)
• 🎯 TP3: $0.0415 (highs of the beginning of the month)
Stop:
🛑 $0.0291 (below the key support zone)
Risk/Reward:
Approximately 1:2.5 if the target is $0.0380
Confirming Factors:
• Strong bounce from the demand zone
• “Buy” on the auto-analysis indicator
• Potential breakout of the descending channel
• Increase in volumes
