#MYRO
The price is moving within a descending channel on the 1-hour timeframe and has reached the lower boundary. It is now poised for a bounce and is expected to retest this boundary.
The Relative Strength Index (RSI) indicates a downward trend, which is likely to continue given the overbought conditions.
A key support zone has been identified in green at 0.002160. The price has bounced off this zone several times, making it a strong support level.
The price is trending towards the 100-period moving average, which we are approaching. This trend supports an upward move.
Entry Price: 0.002407
Target 1: 0.002513
Target 2: 0.002597
Target 3: 0.002742
You can close at the second target or wait for the third target. The choice is yours.
Stop Loss: At the resistance zone in green.
Remember this simple rule: Money Management.
Any questions? Please leave a comment.
Thank you.