Hello Traders,
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!
- Looking at the trading pair TOMOUSDT, was facing a bearish impulse since April 2022 where sellers took the price down aggressively yet on April 11 2022 buyers managed to hold on critical support level 1.00$ - 1.081$
the price was accumulating for several days then bounced back to push the price higher toward level of resistance 1.346$ - 1.400$ where sellers used their strength to push the price lower again.
- Currently the price is bouncing on level of support 1.200$ - 1.250$ where a possible upward move could take a place yet i suggest 2 scenarios as follow :
- Bullish scenario : Since price action is trading inside an ascending channel i would like to see buyers taking price higher again towards resistance level 1.346$ - 1.400$ creating a new higher lower and aim to push even
higher towards level of resistance 1.500$ and progressively.
- Bearish scenario : If buyers failed to maintain level of support 1.200$ - 1.250$, then sellers will take advantage and push price lower breaking the ascending channel lower support taking the price towards old level
support 1.00$ - 1.081$
Good Luck Traders :)
Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!
- Looking at the trading pair TOMOUSDT, was facing a bearish impulse since April 2022 where sellers took the price down aggressively yet on April 11 2022 buyers managed to hold on critical support level 1.00$ - 1.081$
the price was accumulating for several days then bounced back to push the price higher toward level of resistance 1.346$ - 1.400$ where sellers used their strength to push the price lower again.
- Currently the price is bouncing on level of support 1.200$ - 1.250$ where a possible upward move could take a place yet i suggest 2 scenarios as follow :
- Bullish scenario : Since price action is trading inside an ascending channel i would like to see buyers taking price higher again towards resistance level 1.346$ - 1.400$ creating a new higher lower and aim to push even
higher towards level of resistance 1.500$ and progressively.
- Bearish scenario : If buyers failed to maintain level of support 1.200$ - 1.250$, then sellers will take advantage and push price lower breaking the ascending channel lower support taking the price towards old level
support 1.00$ - 1.081$
Good Luck Traders :)
Trade closed: target reached