I am watching $RONIN closely as it just printed a massive 38% breakout candle on the daily chart. While many are chasing the pump, I see a specific technical setup forming that could offer a high-probability entry for those who missed the initial move.
The vertical move to 0.1500 was met with heavy profit-taking, creating a long upper wick. However, I am encouraged by the 1H chart showing price holding steady above 0.1200. This sideways consolidation is cooling down the RSI without a price collapse, which is a classic Bull Flag pattern. As long as we stay above the EMA 21 support, the momentum belongs to the buyers.
Trade Signal:
Entry: 0.1240 - 0.1270
TP 1: 0.1340
TP 2: 0.1420
TP 3: 0.1490
Stop Loss: 0.1140
Click the chart below to trade.
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Disclaimer: Trading involves risk and this analysis is for educational purposes only.
The vertical move to 0.1500 was met with heavy profit-taking, creating a long upper wick. However, I am encouraged by the 1H chart showing price holding steady above 0.1200. This sideways consolidation is cooling down the RSI without a price collapse, which is a classic Bull Flag pattern. As long as we stay above the EMA 21 support, the momentum belongs to the buyers.
Trade Signal:
Entry: 0.1240 - 0.1270
TP 1: 0.1340
TP 2: 0.1420
TP 3: 0.1490
Stop Loss: 0.1140
Click the chart below to trade.
If you found this analysis helpful, click Follow for the next update.
Disclaimer: Trading involves risk and this analysis is for educational purposes only.