The current market situation for $MIRA on Binance Square attracts the attention of those looking for potential reversal points.
The technical picture for GLOO:
On the 4-hour timeframe, we see that the asset has entered a consolidation phase (sideways) after a prolonged decline. The price is squeezed between a strong support zone at 0.0860 and a descending trendline, which acts as the main resistance.
Why is the sideways market important?
Accumulation of strength: In such zones, major players often accumulate positions without attracting unnecessary attention to the price.
Narrowing range: The longer $MIRA stays in this triangle below the yellow line, the stronger the subsequent movement will be.
Indexing GLOO: Our algorithms show that the level 0.0900 will become a "trigger" for activating pending buy orders.
Gold Standard Strategy
Entering a trade in the middle of the sideways market is a risk. We recommend waiting for a clear breakout above the upper trendline and holding above it. This will confirm the change of the local trend and open the way to targets above 0.1200.
Be vigilant and follow the chart, not your emotions!
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