This looks like a solid technical setup for a long trade on $ELF/USDT, especially with the bullish momentum and increasing volume. Here are a few key things to watch for:
Key Confirmation Factors:
✔️ Higher Highs & Higher Lows: Indicates a strong uptrend.
✔️ Breakout Above Resistance: Holding above $0.2500 is crucial for continued upside.
✔️ Volume Surge: Confirms strong buying interest.
✔️ Break Above $0.2700: Will likely trigger more upside momentum.
Risk Management:
🛑 Stop Loss at $0.2400 is well-placed to minimize downside risk in case of a pullback.
🎯 Target 1 ($0.2700): Key short-term resistance; if broken, price could rally further.
🎯 Target 2 ($0.2850) & Target 3 ($0.3000): Strong resistance zones where profit-taking may occur.
Potential Trade Strategy:
Aggressive Traders: Enter now with a stop-loss at $0.2400.
Conservative Traders: Wait for a breakout above $0.2700 before entering.
Do you want a deeper technical analysis with indicators like RSI, MACD, or Fibonacci levels?