chart analysis @lunyoner
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General Overview of the Chart:
The chart shows that the descending trend has broken, and the price has exited the descending triangle. A strong support area has been established horizontally (0.1050 – 0.1150 area). After the breakout, the price is currently near the major resistance line: around 0.17.
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Support – Resistance Levels:
• Support:
• 0.1150 (strong base formation area)
• 0.1350 (retest area after the breakout)
• Resistance:
• 0.1950 (first strong resistance)
• 0.2900 (selling area formed after previous demand)
• 0.52 and 0.80 (previous high-volume selling areas)
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Target and Price Expectation:
• If the breakout continues, the formation target is approximately:
• Uptrend starting from 0.17 → potential up to 2.50 USDT
• That is: %1600+ formation target is technically projected.
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Indicators:
• Volume: There is an increase along with the breakout. Increased volatility supports this.
• RSI (likely 1D/1W): Signal to cross above 50, momentum has turned in favor.
• MAs: The price is currently above the short-term MAs – trend confirmation is received.
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Formation and Structure:
• There is a cup-bottom-like structure forming within a descending triangle.
• The cup formation is on the verge of completion, with a direct breakout occurring without forming a handle.
• Formation target: 2.50 USDT (strong psychological and technical resistance).
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4H – 1D – 1W Volume Comments:
• 4H: Short-term sudden buying pressure is noticeable.
• 1D: The breakout candle and the subsequent increase in volume indicate that momentum may continue.
• 1W: On a macro scale, this structure can be seen as the first major buying signal.
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Trend Direction:
• The descending trend has been broken.
• We are currently in the transition phase to an upward trend from the horizontal base.
• If a daily close above 0.19 occurs, parabolic expansion may begin.
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Road Map:
1. 0.195 breakout: First target.
2. 0.29 – 0.32 area: Profit sales occur.
3. 0.52: Medium-term target.
4. 0.80 and above: Rally area (formation target = 2.50)
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Strategy Suggestion:
• Gradual Buying Areas:
• 0.1350 – 0.1450
• 0.1150 (strong support – if it closes below with a weekly candle, the structure will break down)
• Stop Area:
• A weekly close below 0.0990 will invalidate the entire structure.
• Profit Realization Levels:
• %25: 0.29 – %25: 0.52 – %25: 0.80 – %25: 1.20+
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Conclusion:
This structure is a classic awakening signal for coins that have gone to sleep with low volume. It initially receives comments like 'strange', then 'incredible' before it explodes. If managed with patience, gradually, and disciplined, this formation can offer very good returns.
This is a structure that will yield returns with a solid strategy. If you plan to continue, don't forget the stop and target discipline.