$MORPHO /USDT: Testing Local Resistance 📈
$MORPHO is showing signs of a slow-and-steady recovery, currently hovering around $1.218. The price action is hugging the 24h high ($1.222), which often signals an accumulation of strength before a potential breakout attempt.
📊 Technical Setup
* Support Zone: $1.18 – $1.20 (Recent consolidation base)
* Immediate Resistance: $1.225 – $1.25 (The psychological "wall")
* Breakout Target: If price clears $1.25 with volume, the next major objective sits near $1.32 – $1.35.
💡 Strategy Insights
* The "Wait & See" Play: Wait for a solid 1H candle to close above $1.23. This confirms the momentum isn't just a "fake-out" wick.
* Risk Management: A stop-loss below $1.18 protects against a reversal, as losing that level could lead back to the recent lows of $1.11.
* Sentiment: Moderate. Volume is healthy but not explosive yet. Keep an eye on the broader DeFi sector—if $ETH or other lending protocols pump, $MORPHO will likely follow.
Key Levels to Watch:
* 🚀 Long Entry: Above $1.23
* 🎯 TP1: $1.28 | TP2: $1.35
* 🛑 Stop-Loss: $1.17
#MORPHO #DeFi #CryptoTrading #PriceAction #Binance
