š Market Overview:
The $SUSDT (formerly FTM) market is currently exhibiting a corrective phase within a descending channel, following a liquidity sweep to the upside. Despite the broader bullish market conditions, $SUSDT has struggled to recover, indicating a potential accumulation phase.
š Technical Analysis:
Recent price action suggests a strong possibility of a long-side liquidity grab near the $0.38 zone, aligning with key Fibonacci extension levels. A decisive reaction from this support area could signal the initiation of a significant upward movement.
š Trade Setup:
Entry Point: Consider entering near the $0.38 support zone, awaiting confirmation of a bullish reversal.
Target Levels: Monitor for potential resistance around $0.45 and $0.50.
Stop Loss: Place a stop loss below the $0.37 level to manage risk effectively.
ā ļø Risk Management:
Always conduct thorough research and consider market conditions before entering trades. Utilize appropriate risk management strategies to protect your capital.
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š Disclaimer:
This content is for informational purposes only and does not constitute financial advice. Always perform your own research and consult with a financial advisor before making investment decisions.
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