$BEL Protocol (BEL) has experienced a notable bullish breakout, with its current price at $0.7888, marking an 18.89% increase from the previous close. The day's trading has seen a high of $0.7888 and a low of $0.6632.
The price has surpassed the key resistance level of $0.7800, which is now acting as support. The next resistance zone is identified between $0.8000 and $0.8200.
Trade Setup:
Entry Zone: $0.7700 – $0.7850 (following a breakout retest)
Targets:
TP1: $0.8050
TP2: $0.8300
TP3: $0.8600
Stop Loss: Below $0.7520
The recent breakout from a consolidation range, accompanied by strong volume and a bullish structure, suggests momentum favoring continuation, particularly within the DeFi sector's current uptrend.
Pro Tip:
Monitor for a clean retest of the $0.7800 level for a potential low-risk re-entry point. Breakouts with strong volume often present opportunities for subsequent upward movements.
