$ELSA
shows a compelling bullish recovery following a significant rejection from recent highs. After testing the $0.066 support level, the price has successfully reclaimed key moving averages, including the MA(25) at approximately $0.0716, which now acts as immediate support. The recent bullish candles, supported by a surge in volume, indicate renewed buying interest and a shift in momentum as the market attempts to break past the current resistance near $0.074. Joining this trade now offers a favorable risk-to-reward setup as ELSA targets a retest of its psychological resistance at $0.081 and potentially its recent swing high of $0.084.
Trade Setup:
Entry: $0.0732 (Current market price or on a slight pullback to the MA(25) support zone).
Stop Loss (SL): $0.0699 (Just below the MA(25) and recent consolidation low to protect against a trend reversal).
Target 1: $0.0770 (Minor resistance level).
Target 2: $0.0812 (Significant resistance and recent local peak).
Target 3: $0.0848
