The coin $1000000BOB has shown a steady growth of 19% in the last 24 hours, reaching $0.0416. Technically, the asset remains in a zone of increased interest: RSI (24h) = 65.35, indicating an approach to the overbought zone, but without signs of overheating โ the bullish momentum has not yet been exhausted.
On the 4H chart, the formation of an ascending channel is noticeable, with support around $0.038โ0.039, and the nearest resistance at $0.045โ0.047. A break above the upper boundary will open the way to $0.050โ0.052.
๐ Bullish scenario: if we consolidate $1000000BOB above $0.042, a long entry is possible with TP1 = $0.045, TP2 = $0.050, SL = $0.041 (โ2%). After reaching the first target, it is reasonable to move the stop to breakeven.
๐ Bearish scenario: if we pull back $1000000BOB below $0.039, a short to $0.036โ0.035 is possible, with SL = $0.040 (โ3%).
๐ก It is recommended to use a small portion of your deposit due to increased volatility and the dynamic nature of the coin.
๐ The current situation looks interesting for short-term trades but requires clear discipline and risk management.
๐ Share your thoughts in the comments โ do you think we will break $0.05 or is a correction ahead?
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