đź’Ž#ROSUSDT has been consolidating within a triangle pattern for the past week, but a recent upside breakout on the hourly chart has sparked bullish momentum. Prior to the breakout, #ROSE found strong support at two key levels, the 78.6% Fibonacci retracement, suggesting a potential pullback to the upside.
đź’ŽConsidering these factors, the probability now favors a short-term uptrend with a potential price increase of 24%, targeting the supply zone. However, it is important to closely monitor the nearest resistance level, as a successful break above it would serve as a strong confirmation of a changing sentiment towards the bulls.
đź’ŽOn the downside, if the most recent 78.6% Fibonacci support is breached, we could anticipate a move down towards the $0.05 demand zone. A confirmed break and close below the $0.048 level would further solidify bearish dominance.
đź’ŽConsidering these factors, the probability now favors a short-term uptrend with a potential price increase of 24%, targeting the supply zone. However, it is important to closely monitor the nearest resistance level, as a successful break above it would serve as a strong confirmation of a changing sentiment towards the bulls.
đź’ŽOn the downside, if the most recent 78.6% Fibonacci support is breached, we could anticipate a move down towards the $0.05 demand zone. A confirmed break and close below the $0.048 level would further solidify bearish dominance.
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Want to trade like a PRO without the 15+ year learning curve?
đź«łSteal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
đź«łSteal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
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.