🚦 MORPHO/USDT: Tight Consolidation Watch
MORPHO is currently trading at $1.503, consolidating tightly after a major correction from higher levels. The RSI is neutral (49.5), indicating a period of market indecision. The price is sitting right on a critical psychological floor, suggesting an imminent directional move.
Support & Resistance:
Immediate support is the $1.48 - $1.50 cluster, which must hold to prevent further downside. Critical resistance is the consolidation ceiling at $1.53, followed by the strong historical hurdle at $1.60.
Trading Plan:
Look for a confirmed long entry inside the consolidation support, ideally around $1.50 - $1.51, betting on a break to the upside.
Exit Strategy (TP & SL):
Stop Loss (SL): Set strictly below the consolidation floor at $1.48.
Take Profit 1 (TP1): $1.53 (Range breakout target).
Take Profit 2 (TP2): $1.56 (Mid-swing pivot).
Take Profit 3 (TP3): $1.60 (Testing previous strong resistance).
@Morpho Labs 🦋 #Morpho $MORPHO
