#FORTH (SPOT) to ( 2.5 $ ) ?#FORTH
The price is moving within a descending channel on the 1-hour frame and is expected to break and continue upward.
We have a trend to stabilize above the 100 moving average once again.
We have a downtrend on the RSI indicator that supports the upward break.
We have a support area at the lower boundary of the channel at 2.300, acting as strong support from which the price can rebound.
We have a major support area in green that pushed the price higher at 2.260.
Entry price: 2.335
First target: 2.380
Second target: 2.440
Third target: 2.500
To manage risk, don't forget stop loss and capital management.
When you reach the first target, save some profits and then change the stop order to an entry order.
For inquiries, please comment.
Thank you.
