ALGOUSDT is currently trading inside a well-defined bullish Flag pattern on the 4-hour chart, a structure known for its bullish breakout potential. The price recently tested a significant demand zone, which previously acted as a base for a strong upward move earlier in July.
Key Points:
Bullish Flag Structure: Price is compressing within converging trendlines, forming lower highs and lower lows a classic bullish flag pattern.
Support Zone: The $0.24 – $0.255 area has acted as a strong demand zone, providing reliable support.
Bounce Potential: A bullish reaction from the lower flag boundary and demand zone could lead to a move toward the upper trendline and potentially trigger a breakout.
200 EMA Support: The 200 EMA is currently providing dynamic support, reinforcing the bullish setup.
Breakout Confirmation: A breakout above the flag resistance with strong volume could initiate a rally toward the $0.30 – $0.40 zone.
Cheers
Hexa
Key Points:
Bullish Flag Structure: Price is compressing within converging trendlines, forming lower highs and lower lows a classic bullish flag pattern.
Support Zone: The $0.24 – $0.255 area has acted as a strong demand zone, providing reliable support.
Bounce Potential: A bullish reaction from the lower flag boundary and demand zone could lead to a move toward the upper trendline and potentially trigger a breakout.
200 EMA Support: The 200 EMA is currently providing dynamic support, reinforcing the bullish setup.
Breakout Confirmation: A breakout above the flag resistance with strong volume could initiate a rally toward the $0.30 – $0.40 zone.
Cheers
Hexa
🚀Telegram : t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
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🚀Telegram : t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。