hi Traders,
We can see Bullish Signals Developing
Bullish Divergence (RSI):
A clear bullish divergence is visible between the RSI and price action. While the price made lower lows, the RSI formed higher lows (28.35 vs. previous 24 region), indicating a potential loss of bearish momentum and the emergence of buying pressure at lower levels.
Oversold RSI:
The RSI is recovering from oversold conditions and is currently around 34.68, showing that the asset may be primed for a short-term rebound.
🟡 Key Support Zone: Previous Resistance Flip
The current price action is retesting a previous top (~0.01172 USDT) from mid-July, which now acts as support.
This level previously acted as a breakout zone during the upward rally and is a logical area where buyers may step in again.
If this support holds, it increases the probability of a reversal or consolidation phase.
📊 Potential Reversal Targets
First Target: 0.01478 USDT (mid-range resistance)
Second Target: 0.01600 USDT
Third Target: 0.02016 USDT (strong resistance from recent top consolidation)
📉 Risk Management
A daily close below 0.01170 would invalidate the bullish setup, indicating possible continuation of the downtrend.
Volume remains moderate (13.43M), so confirmation via bullish candle and volume pickup is ideal.
✅ Conclusion:
FUN/USDT is showing early signs of a potential bullish reversal, backed by RSI divergence and a retest of prior resistance now acting as support. Traders may consider this a watchlist candidate for a bounce setup, with well-defined invalidation and targets.
We can see Bullish Signals Developing
Bullish Divergence (RSI):
A clear bullish divergence is visible between the RSI and price action. While the price made lower lows, the RSI formed higher lows (28.35 vs. previous 24 region), indicating a potential loss of bearish momentum and the emergence of buying pressure at lower levels.
Oversold RSI:
The RSI is recovering from oversold conditions and is currently around 34.68, showing that the asset may be primed for a short-term rebound.
🟡 Key Support Zone: Previous Resistance Flip
The current price action is retesting a previous top (~0.01172 USDT) from mid-July, which now acts as support.
This level previously acted as a breakout zone during the upward rally and is a logical area where buyers may step in again.
If this support holds, it increases the probability of a reversal or consolidation phase.
📊 Potential Reversal Targets
First Target: 0.01478 USDT (mid-range resistance)
Second Target: 0.01600 USDT
Third Target: 0.02016 USDT (strong resistance from recent top consolidation)
📉 Risk Management
A daily close below 0.01170 would invalidate the bullish setup, indicating possible continuation of the downtrend.
Volume remains moderate (13.43M), so confirmation via bullish candle and volume pickup is ideal.
✅ Conclusion:
FUN/USDT is showing early signs of a potential bullish reversal, backed by RSI divergence and a retest of prior resistance now acting as support. Traders may consider this a watchlist candidate for a bounce setup, with well-defined invalidation and targets.
💥 Free signals and ideas ➡ t.me/vfinvestment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Free signals and ideas ➡ t.me/vfinvestment
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.