The liquidity sweep below the current price action on EDEN is a critical indicator that smart money is accumulating, with a specific eye on the 0.04930 level as a potential launchpad for a significant move upwards. This zone is essentially an order block and fair value gap sandwich, which historically has been a high-probability area for a bounce or a continuation.
From a technical standpoint, EDENUSDT is showing a bullish higher time frame structure, with the RSI currently at 32, indicating that there's plenty of room for an uptrend to develop. The volume, although not excessively high at 0.6 times the average, suggests a controlled and calculated interest in the coin, further supporting the bullish narrative.
Trade levels are as follows:
- Entry: 0.05240
- Take Profit 1: 0.05600, offering a return-risk ratio of 1.7 times
- Take Profit 2: 0.06140, with a return-risk ratio of 4.2 times
- Stop Loss: 0.05024, positioned to minimize potential losses
Given the current setup, the SMC Score of 7.3 out of 10 reinforces the notion that there's a significant potential for an upside move. I'm looking to long EDEN at 0.0524, keeping a close eye on the order block and looking to take profits at the specified levels. For those looking to follow this trade, make sure to set your stop loss at 0.05024 to protect your position.
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