Today’s analysis – XVSUSDT- trading at a key location where an impulse is highly probable,
Points to consider,
- Price action impulsive
- Local S/R support
- Swing High objective
- .50 Fibonacci
XVSUSDT’s immediate price action is impulsive, trading above its Local S/R Support after bouncing from its OB, allows for a bias.
The .50 Fibonacci is current resistance; exceeding this level will increase the probability of testing the current swing high.
Both oscillators are working towards there expected control zones, remaining in these regions will be indicative of strength.
Overall, in my opinion- XVSUSDT is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps,
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