Watching both ways because resistance has held this entire tightening range. Big breakout incoming.
Im a little late on this juan but ALGO has confirmed support along with many other alts. With quite a few now breaking out of these consolidation phases, I am expecting the same here.
With many other alts already breaking out of their lower time frame supports 10-30%, a laggard has been spotted.
Plain and simple, an hourly support bounce makes for many trades available on lower timeframes.
I think we get another candle closure above this support, with a flush through next week to make another tweezer wick like bottom, confirming this support and then a push towards highs again. Keep an eye on the lower timeframes, 1h/4h and daily to try and avoid the flush, or play it, and to stay ahead of a major downturn incase my idea is wrong here.
If we dont hold the higher time frame EMA support, Im quite confident we will have ATLEAST a few % bounce off the POC(blue) level right below it. Weather or not that bounce sustains the uptrend remains to be seen, and we will have to reestablish views if and when we get there.
Solid support found with a good bounce so far. looking at the rest of the alts right now, many are breaking out again, bouncing off of support 10-30%. Lets carry on here.
Took a while to get down here but I imagine we see a nice bounce.
After a solid support treasure hunt, gold has been found. Now we are attempting to break out of the cave with a solid wall to breakdown. A breakout from here will see a very nice move, and of course keep an eye on for a big wick down to retest the resistance trend line and horizontals after the breakout
Long story short - last time we were fiddling around with this level, NEAR rocketed to $20. Now we are forming more support here and around this level....possibly fueling for a nice move higher. We have a few levels of support right below current price action, but my next trend line support is 33% away. I dont really wanna see the 12h structure break downward....
This is a POC level I found and marked up from May of 2022. With many test as resistance after that, I am hoping to see this hold as support. As of this posting, it has provided immediate support on the flush down, but we shall see if any real volume can come in here to push it higher. A breakout does depend on the broader market. BTC consolidation is great. BTC...
Checking in now on some hourly support levels, with the first one showing a wee bit and the second down looking like its going to show more. Weak bounces so far, but keeping an eye on a pop off. Easy short below this final marked support as well
Pretty high volume support level coming up. I expect a nice bounce, then some possible sideways action if we cannot V shape out of the zone. This bounce really depends of the rest of the market, more specifically bitcoin rallying back up off its incoming support level as well.
While there are many much PEPE in the world. This one has yet to make a substantial move off support like the other pepe's. Lets see what happens.
We have a crystal clear support level now with multiple test. Simply put, break the support, short. Until then, stay long squad.
Watching for support to continue to be support, and pop this alt up to POC resistance around .70-.80. Will take ATLEAST partial profit then, and recalibrate.
If the rest of the market catches support, this thing will rocket. If we keep dropping market wide, well....I would just short a retest of this first support/flip resistance zone. Heading higher? Watch out for a wick through all-time highs with a major flush back down.
Aiming high here with a bullmarket at our backs (hopefully) this bounce is just getting started.