Price Action Analysis for Coin #TRUMP
The TRUMP/USDT pair on the 4-hour chart is showing a bullish bounce attempt after touching recent lows, currently trading at $2.010. The price is moving below the main descending trend line depicted by the dashed line, while the moving averages are trying to cross positively to provide support for the price in its quest for upward momentum. According to the Fibonacci tool's data, the upcoming movement levels are as follows:
The Pivot Point (PP): is at $2.148, and breaking this level and maintaining above it is a crucial first step to break free from the descending trend line and activate the bullish scenario.
Target Resistance Levels: If the price manages to break above the pivot point, the successive bullish targets are set at TP1: 2.148$ (the pivot point level), then TP2: $2.584, reaching the higher target at TP3: $3.129.
Protective Support Levels: The price is currently resting above the first support wall ST1: $1.941, while the main support level and last safety valve is at ST2: $1.826.
The most likely scenario is a continuation of the bounce attempts from above the ST1 support level to test the descending trend line and the pivot point at $2.148, which, if surpassed, will open the path for more bullish momentum.
#TRUMP #Crypto #AIMONACCI
The TRUMP/USDT pair on the 4-hour chart is showing a bullish bounce attempt after touching recent lows, currently trading at $2.010. The price is moving below the main descending trend line depicted by the dashed line, while the moving averages are trying to cross positively to provide support for the price in its quest for upward momentum. According to the Fibonacci tool's data, the upcoming movement levels are as follows:
The Pivot Point (PP): is at $2.148, and breaking this level and maintaining above it is a crucial first step to break free from the descending trend line and activate the bullish scenario.
Target Resistance Levels: If the price manages to break above the pivot point, the successive bullish targets are set at TP1: 2.148$ (the pivot point level), then TP2: $2.584, reaching the higher target at TP3: $3.129.
Protective Support Levels: The price is currently resting above the first support wall ST1: $1.941, while the main support level and last safety valve is at ST2: $1.826.
The most likely scenario is a continuation of the bounce attempts from above the ST1 support level to test the descending trend line and the pivot point at $2.148, which, if surpassed, will open the path for more bullish momentum.
#TRUMP #Crypto #AIMONACCI