$ADX spent a long time building a base above the 0.0565 support area before momentum suddenly exploded, sending price all the way to 0.0805 in a vertical move. That breakout couldn't be sustained and was followed by a sharp correction, but what stands out on the 1H chart is how buyers stepped back in and gradually rebuilt the structure. Price has now recovered to 0.0619 and is starting to push higher again after forming a rounded recovery from the post-spike lows 👀
Setup: • Entry: 0.0605 – 0.0625
• Target 1: 0.0659 🚀
• Target 2: 0.0710 🔥
• Target 3: 0.0805 💰
• Stop-loss: 0.0580
RSI around 70.95 shows momentum has returned to bullish territory as the recovery continues. Right now this feels like one of those charts where the market has already flushed out weak hands after the spike and is attempting to rebuild momentum step by step. The key thing to watch is whether buyers can reclaim the 0.0659 area. If that happens, the path toward a retest of the major high at 0.0805 becomes much more interesting on the 1H timeframe 📈🔥
Trade #ADX here
ADX
0.0609
-1.61%