API3/USDT 1H Chart Analysis: Cup and Handle Breakout 🚀
📊 Current Price: 1.367 USDT (-0.279%)
🔍 Chart Breakdown:
Cup and Handle Pattern: A textbook bullish continuation pattern has formed. The "cup" developed with a low at 0.816 USDT, climbing back to 1.500 USDT. The "handle" consolidated briefly before a strong breakout above the 1.500 USDT resistance.
Breakout Confirmation: The price surged to 1.979 USDT post-breakout (blue arrow), signaling strong bullish momentum.
Support/Resistance:
Support held firm at 0.816 USDT (red dashed line).
Resistance at 1.500 USDT (blue dashed line) was broken decisively.
New resistance levels to watch: 1.937, 1.367, 1.296, and 1.181 USDT.
Buy Signals: Two buy signals (green "B" with 1% labels) were triggered:
First at the cup's bottom (0.816 USDT).
Second during the handle consolidation, just before the breakout.
Volume/Momentum: The breakout was accompanied by a spike in buying pressure, as indicated by the 35.84% increase (0.498 USDT) shown in the gray box.
📈 Outlook: The breakout above 1.500 USDT confirms the bullish trend. If momentum continues, the next targets could be 1.937 USDT or higher. However, watch for potential pullbacks to retest the 1.500 USDT level as support. Always manage risk—crypto markets are volatile!
