Notcoin/Tether

notcoin weekly movement

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after a deep corrective movement by reaching RSI over sold area it was supported and by candle 4 and 18 november broke up the descending trend line but stopped after reaching the first static resistance area made by candle 23 sep . If the price could break up the first static resistance line so it would be an important signal of turning the down trend into up trend .
studying the moving averages shows that the price is blow the 21 ema which is as the same area as the first static resistance line.
also the there is a positive divergence between price and momentum indicator that says the momentum or acceleration is increasing . so we can consider it as a positive sign for possible up trend movement.
first stop loss : the candle 18 nov
second stop loss : 4 nov candle
first target point : the candle 15 july 2024

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