This operation is for educational purposes $FUN
Technical Analysis FUNUSDT - 1H
Current situation: The price of FUNUSDT is within a rising wedge pattern, a formation that historically has a higher probability of breaking downwards. Currently, the price is testing a key support zone between 0.00760 and 0.00770 USDT, which also coincides with the lower trend line of the pattern.
Technical structure:
Previous trend: Bullish.
Active pattern: Rising wedge (potentially bearish).
Current support zone: 0.00760 - 0.00770 USDT.
Upper resistance zone: Approximately 0.00900 USDT.
Funding rate: -0.1212%, indicating that long traders are paying shorts. This suggests a predominant bearish sentiment in derivatives.
Possible scenarios:
Scenario 1 - Bearish breakout (more likely):
If the price loses the blue zone and breaks the lower trend line, we could see a drop towards:
TP1: 0.00720 USDT (previous consolidation zone).
TP2: 0.00660 USDT (stronger support).
Confirmation: Candle close below the wedge with volume.
Scenario 2 - Bullish bounce:
If the support holds, the price could look for a new move towards:
TP1: 0.00850 USDT (intermediate resistance).
TP2: 0.00900 USDT (channel top).
Confirmation: Clear rejection with wick + buying volume.
Conclusion: FUNUSDT is in a critical zone. The technical pattern along with a negative funding rate reinforces the possible bearish scenario, although there is still no confirmed breakout. Price action in the coming hours will be key.
Recommendation: Conservative traders: Wait for confirmation before entering.
Aggressive traders: Possible short entry if support breaks with a tight stop.
Always with risk management.
What do you think?
Bounce from support or is a drop coming? I read you in the comments.
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