Long
PORT3 USDT Bullish Setup
PORT3USDT is currently displaying strong bullish momentum on the 4H chart after breaking out of a consolidation pattern earlier this week. The recent impulse move pushed price above key resistance levels, confirming buyer strength.
After reaching a local high near the 0.05613 level (Fibonacci 200%), the price retraced and found support around the 0.04331 area, which aligns with the 61.8% Fibonacci retracement zone. This level is acting as a strong support, suggesting a potential higher low formation.
Volume also spiked during the breakout, followed by a healthy decrease during the retracement, indicating a typical bullish continuation pattern. The current price action shows signs of recovery, and if the price continues to hold above 0.043, we could see a move toward the next resistance zones at 0.04685 and 0.05070.
A break above 0.04685 (Fibonacci 100%) could confirm the next leg up, with targets at 0.05070, 0.05259, and 0.05613. Further extensions are visible at 0.06187 and 0.06794 if momentum continues.
Key levels to watch:
Support: 0.04331, 0.04222
Resistance: 0.04685, 0.05070, 0.05613
Bullish bias remains intact as long as price holds above the 0.043 zone. A clean break below this support could delay the bullish continuation scenario.
After reaching a local high near the 0.05613 level (Fibonacci 200%), the price retraced and found support around the 0.04331 area, which aligns with the 61.8% Fibonacci retracement zone. This level is acting as a strong support, suggesting a potential higher low formation.
Volume also spiked during the breakout, followed by a healthy decrease during the retracement, indicating a typical bullish continuation pattern. The current price action shows signs of recovery, and if the price continues to hold above 0.043, we could see a move toward the next resistance zones at 0.04685 and 0.05070.
A break above 0.04685 (Fibonacci 100%) could confirm the next leg up, with targets at 0.05070, 0.05259, and 0.05613. Further extensions are visible at 0.06187 and 0.06794 if momentum continues.
Key levels to watch:
Support: 0.04331, 0.04222
Resistance: 0.04685, 0.05070, 0.05613
Bullish bias remains intact as long as price holds above the 0.043 zone. A clean break below this support could delay the bullish continuation scenario.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.