📈 Trade Setup: $SONIC /USDT (Long)
The price has recently bounced off a local low of 0.04642 and is currently trading around the 0.05084 mark. It looks like it’s trying to consolidate for a potential move back toward the recent high.
🎯 Key Levels
Entry Price: 0.05050 – 0.05090 (Current market area)
Take Profit 1 (TP1): 0.05410 (Targeting the recent wick high)
Take Profit 2 (TP2): 0.05850 (Extended target if momentum continues)
Stop Loss (SL): 0.04880 (Placed below the recent consolidation cluster to protect against a trend reversal)
💡 Strategy Insights
Trend: The 1-hour chart shows a sharp "V" recovery followed by sideways movement. A break above the recent local resistance at 0.05100 could trigger a fast move to TP1.
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