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MOVR / TetherUS

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MOVRUSDT trade ideas

$MOVR Breakout Trendline & Retest Done $MOVR Breakout Trendline and Retest Done Simple Way to Trade Trendline Breakouts Talking Points: Always wait for the current candle to close beyond the trendline to confirm the break. Enter into the trade when price retraces back within a few pips of the original trendline, trading in the direction of the original breakout. Set your Stop a few pips beyond the trendline and set your Limit at least twice as far as your Stop. Step 1. - Locating the Trendline As a review, a trendline is a line connecting two or more lows or two or more highs, with the lines projected out into the future. Traders than look at these projected lines and look for future prices to react around those levels. For a detailed lesson in identifying and drawing valid trendlines, check out my 3 Tips For Trendline Trading. On the chart below is an example of a trendline that developed today on the MOVR/USDT on an Hourly chart. You can see how I connected the two swing lows to create a line and projected that line out into the future. Step 2. – Wait For a Confirmed Breakout Next, we need to see how the price reacts to the projected trendline. There are two potential outcomes when price comes into contact with a trendline: The price will bounce off the trendline The price will break through the trendline This article focuses on the latter. So we wait to see if the price does in fact break through the price. But we aren’t ready to place a trade just because the price breaks through the trendline. We need to wait and see if the current candle closes beyond the trendline. We require a candle to close beyond the trendline to confirm the breakout. This is a very important rule. Step 3. Set Up The Trade Remember the first image I showed you of the GBP/USD Hourly chart? Let’s go back to that example because it actually ended up producing a near perfect breakout setup. Soon after that snapshot was taken, the GBP/USD fell and broke through our trendline with authority. A very short time after that, the Hourly candle closed below the trendline and confirmed the breakout as well. Once this happened, it was time to get to work to setup this trade. There are 3 things we needed to do to execute this breakout trade: Set an Entry order to Sell just below the original trendline. Attach a Stop order several pips above the trendline. Attach a Limit that is as least twice as large as our Stop . There is a saying that goes “What once was resistance, can later become support. And what once was support, can later become resistance.” This is the mantra we rely on when setting an Entry order near the original trendline. We are looking for price to retrace back to the point of support/resistance it just broke through, and then continue back into the direction of the original breakout. Take a look at how the trade was setup below. I magnified the main part of the chart so it’s easier to read.
Long
by UnknownUnicorn26572303
$MOVR/#USDT [#Moonriver]: Resistance_Breakout_Confirmation◳◱ A Resistance Breakout and Confirmation has been detected on the $MOVR / $USDT chart. The price has broken above a key resistance level and has been confirmed by a strong candle, indicating a potential bullish trend. The next resistance key levels are located at 9.22 | 10.38 | 12.6, and the major support zones can be found at 7 | 5.94 | 3.72. Consider entering a trade at the current price zone of 8.8 and targeting higher levels. ◰◲ General info : ▣ Name: Moonriver ▣ Rank: 318 ▣ Exchanges: Binance, Kucoin, Huobipro, Gateio, Mexc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Moonriver is a parachain on the Kusama network. Kusama is a "canary network" which encourages experimental development prior to implementation on the Moonbeam sister chain on Polkadot. Like Moonbeam, Moonriver is an EVM-compatible smart contract platform built using the Substrate framework. The network has a native token called Moonriver (MOVR), which will allow holders to participate in consensus through staking, paying for transactions, and vote on governance proposals. ◰◲ Technical Metrics : ▣ Mrkt Price: 8.8 ₮ ▣ 24HVol: 3,450,237.846 ₮ ▣ 24H Chng: 9.453% ▣ 7-Days Chng: 13.37% ▣ 1-Month Chng: -2.78% ▣ 3-Months Chng: 27.42% ◲◰ Pivot Points - Levels : ◥ Resistance: 9.22 | 10.38 | 12.6 ◢ Support: 7 | 5.94 | 3.72 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : BUY ◲◰ Sharpe Ratios : ▣ Last 30D: 0.02 ▣ Last 90D: 1.08 ▣ Last 1-Y: -1.19 ▣ Last 3-Y: -0.39 ◲◰ Volatility : ▣ Last 30D: 1.17 ▣ Last 90D: 0.92 ▣ Last 1-Y: 1.04 ▣ Last 3-Y: 1.41 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is 0.38 - Bearish ▣ Reddit sentiment score is 0.76 - V. Bullish ▣ In-depth MOVRUSDT technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
MOVR. The global trend has changed, but...MOVR lost its audience and community during the bear market. Few people at the moment consider this a promising thing. Note that during this bear there were no new projects launched on the moonriver as on the main network... The exception is bridges. But, bridges create integrations more for their own development, and not for a specific blockchain personally. Therefore, I have concerns about positive price fluctuations. On the other hand, a broken wedge indicates growth.
by Tropnik
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