#LINK #Signal🚥. Signal: Wait for Confirmation (Watchlist for Possible Buy)
Current Price: $15.664 Potential Buy Trigger: Clear break and 4H candle close above $15.75 (EMA99 and local resistance) Target 1: $16.24 Target 2: $16.75 Stop Loss: Below $15.27 (recent local low)
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Technical Analysis and Justification:
1. EMA Levels:
EMA(7): 15.640 (price slightly above)
EMA(25): 15.703 (price around this zone)
EMA(99): 15.742 (acting as resistance)
The price is sandwiched between EMA(25) and EMA(99), which suggests potential breakout or rejection. A confirmed close above EMA(99) would strengthen the bullish case.
2. Recent Price Action:
Strong recovery from $14.832 to $15.738 followed by consolidation.
Current candle is testing EMA(99); if price holds and breaks above, it could retest $16.24 and $16.75.
3. Momentum (KD Indicator):
%K = 75.16, %D = 66.12, %J = 93.23 This indicates bullish momentum with room to continue upwards but nearing overbought territory.
4. Volume Profile:
Volume is increasing modestly, though not yet confirming a strong breakout.
The volume moving average (MA(10)) is slightly above MA(5), which means the buying volume is recovering but not aggressive yet.
5. Resistance and Entry Consideration:
Immediate resistance: $15.75 (EMA99)
Next resistance: $16.24, then $16.75
A confirmed breakout above EMA(99) would likely draw in new buyers.
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Recommendation:
No immediate entry. Add to watchlist.
Enter long only if price breaks and holds above $15.75 with volume support.
Use tight stop loss below $15.27 to manage risk.
Ideal for short-term swing or momentum traders.$LINK