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K_M_M
Dec 16, 2023 5:55 PM

MBOX / USDT - Bullish Momentum Confirmed Long

MBOX / TetherUSBinance

Description

Technical Analysis:

  1. Breakout and Retest of Range: MBOX/USDT has recently broken out of a key range and successfully retested the breakout level, indicating a strong bullish signal.
  2. 200 Moving Average Breakout: The 200-day moving average has been decisively breached, providing additional confirmation of the bullish trend.


Price Action and Trend Analysis:
The combination of a breakout and retest, along with the 200-day moving average breakout, suggests a robust uptrend. This strengthens the case for a sustained bullish movement.

Potential Targets:

Target 1: $0.3771
Target 2: $0.4060

Risk Management:
To manage risk, consider implementing stop-loss orders. Monitoring the price in relation to the 200-day moving average can also provide insights into the strength of the trend.

Trade closed: target reached

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