XVS
The price is moving in a descending channel on a one-hour timeframe. It has reached the minimum and is on its way to rise above it, with an expectation to retest the upper limit.
We have a downtrend on the RSI indicator, which has reached near the minimum, and a bullish rebound is expected.
There is a key support area marked in green at 4.10. The price has bounced from this area several times and is expected to bounce again.
We have a trend toward stability above the 100-period moving average, as we approach it, supporting the upward movement
Potential entry levels: 4.20
Potential exit levels:
First target: 4.27
Second target: 4.35
Third target: 4.43
Don't forget a simple principle: money management.
⚠️ Disclaimer:
This analysis is for educational purposes only and does not encourage trading in futures or any prohibited transactions. The aim is to illustrate potential market movements, not a direct recommendation to buy or sell.
💡 Important notes:
- This analysis is for educational purposes only.
- Please study the market and make decisions based on your ability and risk tolerance.
- The author is not responsible for others' trading or their profit results.
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