Hello everyone! I suggest you take a look at HOOK.
After a long decline, the price found its bottom around $0.71 and has been in an accumulation zone for 70 days since August of this year.
Currently, on the chart, we can see that the asset has successfully broken and tested the descending trendline and further broke a strong Fibonacci level at 0.236, establishing itself above it.
I see two entry points, one is riskier (but with a higher profit potential of ~79%) and the other is slightly less profitable but, in my opinion, better than the first.
The first entry point is around $1.125, where one of the asset's support/resistance zones is located, along with the EMA-200 passing through. Opening a position can be considered after the price breaks and establishes itself above this level.
The second entry point is at the 0.382 Fibonacci level ($1.295), entering a position after the breakout and confirmation above this level (expected profit of ~55%).
This is not financial advice, and everything you do, you do at your own risk!
After a long decline, the price found its bottom around $0.71 and has been in an accumulation zone for 70 days since August of this year.
Currently, on the chart, we can see that the asset has successfully broken and tested the descending trendline and further broke a strong Fibonacci level at 0.236, establishing itself above it.
I see two entry points, one is riskier (but with a higher profit potential of ~79%) and the other is slightly less profitable but, in my opinion, better than the first.
The first entry point is around $1.125, where one of the asset's support/resistance zones is located, along with the EMA-200 passing through. Opening a position can be considered after the price breaks and establishes itself above this level.
The second entry point is at the 0.382 Fibonacci level ($1.295), entering a position after the breakout and confirmation above this level (expected profit of ~55%).
This is not financial advice, and everything you do, you do at your own risk!