#SPELL
The price is moving in a descending channel on the 12-hour frame, about to break upward
With a strong support area in green at 0.0007000, the price has already bounced from it
We have a trend to touch the Moving Average 100
We also have a downtrend on the RSI that has been breached upward
A moderate rise is expected over 3 levels
Entry price is...
#SPELL
The descending triangle has been broken since July 2023
The downtrend was retested again before completing the rise.
The first goal is 0.000800.
The second goal is 0.001070.
A correction is expected after the first goal.
This bullishness is supported by oversold conditions on the MACD.
It is also supported by a moving average of 100 upwards.
SPELLis is very strong here as you can see huuuge volume spike. It can run tomorrow or next week while USDT dominance will drop which is good for another leg up. I am watching this closely.
Always manage your risk and use stoploss. It is not financial advice.
Recently I Shared Idea And Now Almost 50% Profit Now Descending Broadening Wedge breakout Also confirmed Expecting Another Bounce
first Tp Would Be 0.00102 Place Sl According Your risk reward Ratio
