Meter / TetherLong
MTRG/USDT (METER) - BULLISH SETUP
ANALYSIS 🔎
- MTRG/USDT is currently on an uptrend supported by the ascending trendline support.
- The market hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 0.786) and ascending trendline support.
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- We could be on the verge of an uptrend continuation.
BUY ENTRY ⬆️
- Current market price.
TARGETS 🎯
- Horizontal resistance level (@4.45).
- Trend based fibonacci extension level 1.0 (@5.039).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@2.352) and ascending trendline support.
- MTRG/USDT is currently on an uptrend supported by the ascending trendline support.
- The market hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 0.786) and ascending trendline support.
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- We could be on the verge of an uptrend continuation.
BUY ENTRY ⬆️
- Current market price.
TARGETS 🎯
- Horizontal resistance level (@4.45).
- Trend based fibonacci extension level 1.0 (@5.039).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@2.352) and ascending trendline support.
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