#CELO/USDT market structure analysis#CELO
The price is moving within a descending channel on the 1-hour frame, adhering well to it, and is heading for a strong breakout and retest.
We have a bearish trend on the RSI indicator that is about to be broken and retested, which supports the upward breakout.
There is a major support area in green at 0.285, which represents a strong support point.
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We are in a consolidation trend above the 100 moving average.
Entry price: 0.291
First target: 0.300
Second target: 0.310
Third target: 0.321
Don't forget a simple matter: capital management.
When you reach the first target, save some money and then change your stop-loss order to an entry order.
For inquiries, please leave a comment.
Thank you.
