SPK/USDT recently attempted to break out from an ascending structure with a strong move, but the price failed to close above the trendline, suggesting it may have been a fakeout rather than a clean breakout.
Currently, the price is pulling back and entering a key retest zone between 0.04695 and 0.04560. This zone acted as previous resistance and could now flip into strong support if bulls step in again.
๐ง What I'm Watching:
โ Entry Zone: 0.04695 โ 0.04560
๐ Stop Loss: Below 0.0445 (to avoid getting caught in deeper downside)
๐ Possible Targets:
๐ฏ TP1: 0.04850 (trendline break confirmation)
๐ฏ TP2: 0.05000 (psychological and previous high zone)
๐ฏ TP3: 0.05280 (extension level)
If we see strong bullish candles from the support zone or a confirmed breakout above 0.0485 with volume, Iโll consider entering the trade. Until then, I'm being patient and letting the setup come to me.
โ ๏ธ Note:
No breakout is confirmed yet. This could still consolidate or fakeout again. Manage your risk and wait for confirmation before jumping in.
