Technical analysis for ARPA/USDT
Timeframe: 4 hours
Technical formation: Descending triangle pattern
Technical indicators:
Relative Strength Index (RSI):
at 72.46, indicating proximity to the overbought zone. Trading volume: Notable increase, which may indicate buyer interest.
Moving Averages: MA(5): at 80.8M MA(10): at 72.7M The price has strongly breached the triangle resistance, which may indicate the beginning of an upward trend.
Forecast and strategy If the price stabilizes above 0.0305 USDT, we may see an upward movement towards the next resistance at 0.0345 USDT and then 0.0370 USDT. Strong support at 0.0272 USDT:
In case of a drop, a retest may occur before any new rise. Positive scenario: Continued upward momentum may push the price towards 0.040 USDT in the short term. Negative scenario: If the price loses momentum and breaks 0.0272, it may return to the level of 0.0235 USDT.
Recommendation: Buy entry after confirming stability above 0.0305 with a stop loss below 0.0272. Take profit targets: 0.0345 - 0.0370 - 0.0400. Monitor trading volume and indicators to confirm the trend.
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