📊 Market overview:
$SUSDT market (previously FTM) is currently displaying a corrective phase within a descending channel, following a liquidity withdrawal to the upside. Despite the overall bullish market conditions, $SUSDT has struggled to recover, indicating a potential accumulation phase.
🔍 Technical analysis:
Recent price action indicates a strong likelihood of liquidity withdrawal from the long side near the $0.38 area, aligning with major Fibonacci extension levels. A decisive reaction from this support area could signal the start of a significant upward movement.
📈 Trade setup:
Entry point: consider entering near the support area at $0.38, awaiting confirmation of a bullish reversal.
Target levels: monitor potential resistance around $0.45 and $0.50.
Stop loss: place a stop loss below $0.37 to effectively manage risk.
⚠️ Risk management:
Always conduct thorough research and consider market conditions before entering trades. Use appropriate risk management strategies to protect your capital.
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📌 Disclaimer:
This content is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult a financial advisor before making investment decisions.
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