$FORTH Trading Signal - Testing Resistance Zone
Entry Range: $4.200 - $4.250
Target 1 (TP1): $4.350
Target 2 (TP2): $4.450
Stop Loss (SL): $3.780
Analysis:
$FORTH is currently testing a significant resistance zone near $4.200. The price has rebounded from the support level at $4.000, indicating a potential bullish reversal. If buyers maintain momentum, the price is likely to break through the $4.250 resistance, targeting $4.350 (TP1) and $4.450 (TP2). However, failure to sustain above $4.200 could see a pullback toward $3.780, which serves as the stop-loss level for risk management.
Market Highlights:
Support Level: $4.000
Resistance Levels: $4.250, $4.350
Current Price: $4.202
Volume indicates a surge in activity, with potential breakout confirmation upon reaching $4.250.
Pro Tip: Monitor the 1-hour and 4-hour timeframes for volume confirmation before entering. Secure partial profits at TP1 while adjusting the stop loss to entry levels to manage risk.