Formation of W Pattern in ESP/USDT Perpetual
ESP/USDT perpetual on Binance has formed a classic bullish W pattern (double bottom), signaling a potential reversal from the post-listing downtrend.
Key observations (chart ~Feb 10, 2026):
Two bottoms near 0.05623, with the second low holding strong.
Neckline resistance at 0.0637–0.064.
Recent breakout attempt pushing price to ~0.0607 (+4.55% in 24h).
Long Entry Setup (Short Version)
Entry: Break & close above neckline (~0.064) or pullback to 0.0637–0.064 as support.
Stop Loss: Below second bottom (~0.056 or 0.055).
Target: Pattern height ≈0.008–0.009 → first target 0.072–0.074, extension to 0.08+.
Risk: Keep leverage low, watch volume & funding rate.
The W bottom shows buyers defending support twice, shifting momentum bullish. With strong volume (~980M ESP / 59M USDT), upside looks possible if reversal confirms.
Combine with Espresso project news and always manage risk — crypto remains highly volatile. Trade responsibly!
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