ANKRUSDT has hit the weekly resistance zone. It is likely that it will be pushed down from here and price will head to weekly support 1 level as shown with path S1. There shall be a bounce from here as shown using path L2. However, in my opinion this support is not that strong compared to weekly support 2. Therefore, I am inclined to the possibility that price will break the first weekly support (weekly support 1) and head towards weekly support 2 zone. But that may change depending on how is the reaction of price on weekly support 1 zone. Therefore, let us focus on path S1 and we will then observe L2 to evaluate how S3 may look like. If we achieve step S3, then S4 should be a very strong bounce and the probability of that bounce being strong is very high. That bounce might pave for a higher high compared to the recent high.
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The price followed path S1 and came quite close to the weekly support 1 zone but shied away from touching it at least for now. I think this is a good region to offload the shorts if there are short position and load again on next resistance zone on the way up it moved till there. The possibility for the price to visit and dip into that support region before any significant movement to the upside is still there but a bit risking off makes sense here.
Trade closed: target reached
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So as expected in this post, the price has hit the target at weekly support 2 zone. The price has almost followed the path S1, L2 and S3. Now we see how L4 plays out in a new post. But the probability is higher that price will bounce from here.
Please post the rndr token analysis too, you are amazing 🙏❤️
ManiRda
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Perfect 🙏🙏
KoDPrey
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You gonna get rekt...
angela_altair
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@KoDPrey, That would not have been the case even if the price went into other direction. However, the probability was in a favor of going short from weekly resistance zone and that is why it made sense to take that direction of the trade.