the price has been on down trend for 5 days, now has consolidated and formed a 123 bottom or ABC reversal bottom . the momentum on the MACD histogram turns positive and the price is above the B level then moon .
Watch SRM really closely as this could be the next gem.
It is currently testing a strong resistance, hence a pullback is possible.
The daily chart shows a possible Cup and Handle formation!
Best of luck!
as I previously posted SRM is in a good shape and ready to take off, but for now, if you looking into long this token with leverage, here are two possible setups that I would place bids on for long positions if given. first entry at 0.38 fibo level for micro range given in chart and second entry at mid-range with invalidation below 0.61 fibo level.
SRM definitely is my favorite coin, love the ecosystem and the team behind it. It has successfully retraced to 0.61 Fibo level from its last rally and bounced. It also broke the trend line on the 1h timeframe. unfortunately, I missed the buying opportunity around the recent lows, so I will wait for a small pullback and I will add more to my bags and will look for...
$SRM is insisting on trading above the resistance it just broke. It went above it, then retested it and stayed briefly below, but then went back up above it. This is usually a sign that it wants to keep trading above.
Think this is a possible play into next week.
TP1 & TP 2 as shown
SL as shown
Fundamentally serum is picking up traction
Not a fan of entering trades before weekly close, wide stop to accommodate for this