š#ONDO Ascending Triangleš
š§ From a structural perspective, we've reached an overlapping resistance zone, so a pullback is possible. Therefore, chasing the price upwards here is not recommended. However, there's a larger bullish structure on the daily chart, so blindly going short is not advisable. The best approach is to wait for a price pullback before looking for long trading opportunities; this will maximize the risk-reward ratio and win rate.
ā”ļøIf a pullback doesn't occur in the short term, and the price continues to consolidate sideways, then you can look for bullish signals on smaller timeframes (note: only try with small positions).
ā”ļøThe next short-term resistance level to watch is around 0.355, a stronger resistance level is around 0.393, and an extreme resistance level is around 0.5712.
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ONDOUSDT
Perp
0.354
-8.71%