Trade setup: Trading in a Channel Up pattern. Trends are improving. We wait for a breakout, ideally with confirmation when price breaks above $1.80 resistance and 200-day Moving Average (~$1.97). Benefiting from the launch of Worldcoin (WLD), which is based on Optimism protocol.
Pattern: Price is trading in a Channel Up pattern. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.
Trend: Uptrend on Medium-Term basis and Downtrend on Short- and Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral).
Support and Resistance: Nearest Support Zone is $1.50 (previous resistance), then $1.20. The nearest Resistance Zone is $1.80, then $2.80
Pattern: Price is trading in a Channel Up pattern. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.
Trend: Uptrend on Medium-Term basis and Downtrend on Short- and Long-Term basis.
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral).
Support and Resistance: Nearest Support Zone is $1.50 (previous resistance), then $1.20. The nearest Resistance Zone is $1.80, then $2.80
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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.
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.