Currently, the coin is moving in a downward direction. As we can see, a descending wedge pattern is forming, and I expect a breakout from this wedge pattern in the near future.
I anticipate the price to fall to the levels of $0.55 - $0.67 per coin, where I would start buying on the spot or consider going long on futures.
The reasons for entering at this level are:
Weekly FVG indicates a potential opportunity.
The 200-day ema on the Weekly TF usually acts as strong support for the price.
The 50-day ema on the Monthly TF also adds to the potential support level.
However, it's important to note that a break below $0.55 could signify further price decline. In such a case, I would assess the long position based on the situation.
I anticipate the price to fall to the levels of $0.55 - $0.67 per coin, where I would start buying on the spot or consider going long on futures.
The reasons for entering at this level are:
Weekly FVG indicates a potential opportunity.
The 200-day ema on the Weekly TF usually acts as strong support for the price.
The 50-day ema on the Monthly TF also adds to the potential support level.
However, it's important to note that a break below $0.55 could signify further price decline. In such a case, I would assess the long position based on the situation.