#DYDX
The price is moving within a descending channel on the 1-hour timeframe; it has reached the lower boundary and is poised for a rebound. A retest of this boundary is expected, supporting some upward movement.
The Relative Strength Index (RSI) indicates a bearish trend, but an upward breakout is likely due to oversold conditions on the 1-hour chart.
There is initial support at 0.1066 acting as a primary support zone.
A key support zone (marked in green) exists at 0.1000; the price has rebounded from this area multiple times, making it a strong support level.
The price is moving toward the 100-period moving average—a level we are currently approaching—which supports a potential rise.
Entry Price: 0.1129
Target 1: 0.1155
Target 2: 0.1184
Target 3: 0.1224
Stop Loss: At the green support zone.
Remember this simple rule: Capital management.
If you have any questions, please leave a comment.
Thank you.